H.J.Res. 59: Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Enacted as part of SJRES18: A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".· May 9, 2025
Sponsor
J. Hill
Republican · AR-2
Congress moves to kill the CFPB overdraft rule
Why it matters
One sentence is all it takes: H.J. Res. 59 says the CFPB's overdraft rule for very large financial institutions would have "no force or effect." If it passes, customers at the biggest banks lose that new federal rule before it can matter.
H.J. Res. 59 would wipe out the CFPB's completed overdraft rule for very large financial institutions in full.
The resolution does not set a new cap on overdraft fees, create a replacement standard, or offer refunds to customers. It simply names the CFPB rule published on December 30, 2024 and says it would have no force or effect.
That makes this an all-or-nothing vote. If Congress approves the resolution and it becomes law, the federal government's new overdraft framework for the largest banks disappears as if it never took effect.
For customers, the practical question is whether your bank faces a new federal overdraft rule at all. Supporters of the resolution argue Congress should block this CFPB regulation. Opponents argue canceling it removes a federal check on overdraft practices at the biggest institutions.
The bill text is only a few lines long, but the effect is sweeping. There is no backup plan in the resolution — just repeal of the rule itself.
Bill Progress
Latest Action · Mar 21, 2025
Placed on House floor schedule, Calendar No. 16.
H.J.Res. 59 Bill Summary
What H.J.Res. 59 actually does.
The CFPB overdraft rule gets erased
H.J. Res. 59 disapproves the CFPB rule titled "Overdraft Lending: Very Large Financial Institutions" and says it would have no force or effect.
Only the biggest banks are in the crosshairs
The targeted rule applies to very large financial institutions, so the resolution is focused on overdraft regulation for the largest banks rather than the whole banking system.
No replacement consumer protections are added
The resolution does not create new overdraft limits, disclosures, refunds, or substitute rules. It only blocks the CFPB rule.
Congress gets a direct yes-or-no vote
Instead of rewriting the policy line by line, lawmakers are voting on whether the entire finished rule should survive.
Who benefits from H.J.Res. 59?
Very large banks facing the CFPB rule
These institutions would avoid having to comply with the overdraft rule if H.J. Res. 59 becomes law.
Bank compliance and legal teams
Teams preparing for a new federal overdraft regime at the biggest banks would no longer have to implement this specific rule.
Lawmakers and groups seeking tighter control over CFPB rules
Supporters of using Congress to block agency regulations would get a clear policy win if this resolution passes.
Who is affected by H.J.Res. 59?
Customers at the biggest banks
If you use overdraft services at a very large bank, the new CFPB rule aimed at those practices would disappear.
The CFPB
The bureau would lose one completed rule outright, because H.J. Res. 59 targets it by name and nullifies it.
Consumer advocates focused on overdraft fees
Groups that wanted the CFPB rule in place would have to push for a different regulatory or legislative approach if this resolution succeeds.
Congress itself
Lawmakers would be forced into a clean up-or-down vote on one banking rule, rather than a broader debate over overdraft policy.
HJRES59 Legislative Journey
House: Committee Action
Mar 21, 2025
Reported by the Committee on Financial Services. H. Rept. 119-26.
House: Vote: 30-19
Mar 5, 2025
Ordered to be Reported by the Yeas and Nays: 30 - 19.
House: Committee Action
Feb 13, 2025
Referred to the House Committee on Financial Services.
About the Sponsor
J. Hill
Republican, Arkansas's 2nd congressional district · 11 years in Congress
Committees: Financial Services, House Permanent Select Committee on Intelligence
View full profile →
Cosponsors at time of passage (17)
All 17 cosponsors are Republicans. Cosponsors represent 14 states: Florida, Georgia, Kentucky, and 11 more.
Daniel Meuser
Republican · PA
Andrew Ogles
Republican · TN
Ann Wagner
Republican · MO
Bill Huizenga
Republican · MI
William Timmons
Republican · SC
Tim Moore
Republican · NC
Mike Haridopolos
Republican · FL
Andy Barr
Republican · KY
Roger Williams
Republican · TX
Byron Donalds
Republican · FL
Maria Salazar
Republican · FL
Troy Downing
Republican · MT
Committee Sponsors
Financial Services Committee
14 of 53 committee members cosponsored at the time
H.J.Res. 59 Quick Facts
- Committee
- Financial Services
- Chamber
- House
- Policy
- Finance and Financial Sector
- Introduced
- Feb 13, 2025
Placed on House floor schedule, Calendar No. 16.
Mar 21, 2025
Official Sources
Official legislative status page for H.J. Res. 59, including text, actions, and sponsors.
Official CFPB page for the exact overdraft rule that H.J. Res. 59 seeks to disapprove.
Federal Register publication of the targeted final rule, matching the bill text citation to 89 Fed. Reg. 106768.
Official GovInfo page for House Report 119-26, the committee report associated with H.J. Res. 59.
Official text of the Small Business Regulatory Enforcement Fairness Act containing the Congressional Review Act framework used for resolutions like H.J. Res. 59.
Official eCFR text for Regulation E, which governs electronic fund transfers and provides regulatory context for overdraft-related consumer protections.
Official CFPB hub for regulations and rulemaking, useful for understanding where the targeted overdraft rule fits within CFPB policy actions.
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H.J.Res. 59 Common Questions
What does H.J. Res. 59 actually do?
It cancels one CFPB rule on overdraft lending at very large financial institutions. If H.J. Res. 59 becomes law, that rule would have no force or effect.
Does H.J. Res. 59 change overdraft fees right away?
Not directly. H.J. Res. 59 does not write a new overdraft policy or fee cap. It only blocks the CFPB rule that was supposed to govern overdraft lending at the biggest banks.
Which banks are affected by H.J. Res. 59?
The resolution targets a CFPB rule for very large financial institutions. It is not written as a broad overdraft bill covering every bank or credit union.
Would H.J. Res. 59 give consumers refunds for past overdraft fees?
No. The text does not create refunds, damages, or new consumer payments. Its only job is to nullify the CFPB rule.
Does H.J. Res. 59 replace the CFPB rule with a different overdraft standard?
No. There is no replacement rule in the resolution. If it passes, the targeted CFPB rule is erased and nothing new is put in its place by this bill.
When was the CFPB rule targeted by H.J. Res. 59 issued?
The resolution names the CFPB rule published on December 30, 2024, titled "Overdraft Lending: Very Large Financial Institutions."
Is H.J. Res. 59 about all CFPB rules or just one?
Just one. H.J. Res. 59 is narrowly written to disapprove a single CFPB overdraft rule for very large financial institutions.
Based on H.J.Res. 59 bill text
H.J.Res. 59 Bill Text
“Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to “Overdraft Lending: Very Large Financial Institutions”.”
Source: U.S. Government Publishing Office
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