Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit Card Penalty Fees (Regulation Z)".

This joint resolution seeks to overturn a federal rule issued by the Consumer Financial Protection Bureau (CFPB) that limits the amount large credit card companies can charge for late fees. Under the current CFPB rule, late fees for major issuers are capped at $8, a significant reduction from the previous average of $32.

If this resolution becomes law, the $8 cap would be eliminated, allowing credit card companies to return to charging higher late fee amounts. Additionally, the resolution would prevent the CFPB from issuing a similar rule in the future, maintaining the industry's ability to adjust fees based on inflation and administrative costs.