A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Summary
This law disapproves and invalidates a rule created by the Consumer Financial Protection Bureau (CFPB) that would have regulated overdraft lending at very large financial institutions. The rule was designed to establish new requirements and restrictions on how major banks handle overdraft services and related fees. By enacting this joint resolution, Congress has rejected the CFPB's regulatory approach to overdraft lending.