A joint resolution 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 withdrawal of the rule relating to "Consumer Financial Protection Circular 2024-05: Improper Overdraft Opt-In Practices".

This joint resolution aims to formally disapprove of a rule issued by the Bureau of Consumer Financial Protection (CFPB). The specific rule in question involves the withdrawal of a previous policy statement known as "Consumer Financial Protection Circular 2024-05." That original circular was designed to protect consumers by clarifying that banks and credit unions may violate federal law if they charge overdraft fees for ATM or one-time debit card transactions without proof that the customer specifically opted into the service.

If this resolution were enacted, it would effectively cancel the CFPB's decision to withdraw those protections. Under the Congressional Review Act, a successful "disapproval" not only voids the agency's action but also prevents the agency from issuing a similar rule in the future unless authorized by a new law. For everyday citizens, this means the resolution seeks to maintain or restore strict requirements for how financial institutions document a customer's consent before charging overdraft fees.