119-HJRES-169 Journalist Public Summary

Public Summary of 119-HJRES-169

1) Headline Summary: Congress would overturn the CFPB’s 2025 withdrawal of guidance on overdraft “opt‑in” practices so the 2024 guidance would stand again. (govinfo.gov)

2) What It Does: The resolution uses the Congressional Review Act (CRA) to declare that the CFPB’s May 12, 2025 rule withdrawing “Consumer Financial Protection Circular 2024‑05: Improper Overdraft Opt‑In Practices” has no force or effect. If enacted, the Bureau’s 2024 circular—stating that banks must be able to prove a customer affirmatively opted in before charging overdraft fees on ATM and one‑time debit card transactions—would again guide enforcement; the CRA would also bar the Bureau from issuing a “substantially similar” withdrawal in the future. (govinfo.gov)

3) Who’s For It: Support tends to come from lawmakers and consumer advocates who want to keep stronger proof‑of‑consent rules for overdraft fees. Recent, parallel Senate efforts to restore the same or similar CFPB circulars have been led by Democrats, signaling caucus support for this approach. (govinfo.gov)

• Consumer advocates point to the circular’s consumer‑protection purpose and note it was specifically withdrawn by the 2025 action. (library.nclc.org)
• Democratic senators have introduced companion CRA resolutions to reverse CFPB withdrawals of this and related circulars. (govinfo.gov)

4) Who’s Against It: Bank and business trade groups objected to the 2024 circular, arguing it imposed new expectations on how institutions document overdraft opt‑ins; those stakeholders are likely to oppose restoring it. (uschamber.com)

5) Why It Matters: For customers, it could reduce surprise overdraft fees by reinforcing that no fee may be charged on covered transactions without clear proof of opt‑in. For banks and credit unions, it could mean re‑adopting recordkeeping and consent practices aligned with the 2024 circular and facing limits on trying to re‑withdraw that guidance. (consumerfinance.gov)

6) What’s Next: As of April 30, 2026, the measure has been introduced and sent to the House Financial Services Committee. To take effect, it must pass both chambers and be signed by the President (or a veto overridden) under the CRA’s streamlined procedures. (Status per bill actions provided; CRA process per CRS.) (congress.gov)