This joint resolution says Congress disapproves a rule submitted by the Consumer Financial Protection Bureau (CFPB) that would withdraw "Consumer Financial Protection Circular 2024-05: Improper Overdraft Opt-In Practices." The resolution states the CFPB rule (90 Fed. Reg. 20084 (May 12, 2025)) shall have no force or effect and therefore would not take effect if the joint resolution is enacted. The original circular referenced is 89 Fed. Reg. 80075 (October 2, 2024).
If Congress passes this joint resolution and it becomes law, the CFPB's submitted rule to withdraw Circular 2024-05 would be nullified and would not take effect. No publicly available information explains direct effects on consumers, banks, or other entities beyond the text of the resolution.
No publicly available information about costs, budgetary effects, or required funding is included in the bill text or provided metadata.
No publicly available information on proponents' detailed statements or arguments is included in the bill text or metadata beyond the sponsor and the resolution language that disapproves the CFPB rule.
No publicly available information on opponents' detailed statements or arguments is included in the bill text or metadata.