Nydia Velázquez (D-NY)
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 the withdrawal of the rule relating to "Consumer Financial Protection Circular 2024-05: Improper Overdraft Opt-In Practices".
A Democratic resolution with no cosponsors
Last activity — Referred to the House Committee on Financial Services.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This joint resolution seeks to express congressional disapproval of a rule submitted by the Bureau of Consumer Financial Protection. The specific rule in question relates to the withdrawal of a rule concerning "Consumer Financial Protection Circular 2024-05: Improper Overdraft Opt-In Practices." If this resolution is passed, the rule regarding the withdrawal shall have no force or effect.
Yes
No question was scored yes.
The opposite· 3 of 5
- Scored -3
Would households on low incomes be better off under this?
By opposing a rule related to overdraft practices, the resolution may leave low-income consumers more vulnerable to unexpected bank fees.
- Scored -3
Does this give people more protection from unfair business practices?
The resolution disapproves a rule intended to address improper overdraft opt-in practices, which likely reduces protections against unfair banking fees.
- Scored -2
Would middle-income households be better off under this?
The disapproval of overdraft-related consumer protections may result in higher banking costs for middle-income families.
Who it would affect, and how
Potential Positive Impacts for People
- Maintenance of existing consumer protections: By disapproving the withdrawal of the rule, Congress aims to prevent the removal of the guidance found in "Consumer Financial Protection Circular 2024-05: Improper Overdraft Opt-In Practices" (89 Fed. Reg. 80075 (October 2, 2024)).
Potential Negative Impacts for People
- No specific negative impacts are explicitly stated in the provided text: The document focuses on the disapproval of a withdrawal, but it does not list specific negative consequences resulting from this action.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would households on low incomes be better off under this? — By opposing a rule related to overdraft practices, the resolution may leave low-income consumers more vulnerable to unexpected bank fees. Would middle-income households be better off under this? — The disapproval of overdraft-related consumer protections may result in higher banking costs for middle-income families. Would people in cities be better off under this? — The reduction in consumer protection regarding overdraft practices may disproportionately affect residents with less liquid capital.
- Economy And Finance
- Does this give people more protection from unfair business practices? — The resolution disapproves a rule intended to address improper overdraft opt-in practices, which likely reduces protections against unfair banking fees.
- Governance And Ideology
- Does this give the federal government more power? — The resolution uses congressional disapproval to nullify a rule issued by a federal agency, thereby limiting that agency's regulatory reach.
- 4/30/2026
- Referred to the House Committee on Financial Services.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.