119-SJRES-142 Journalist Public Summary
A Senate resolution would overturn the National Credit Union Administration’s 2025 move to stop publishing credit‑union‑level overdraft and NSF fee data, using the Congressional Review Act to restore public transparency. (ncua.gov)
Headline Summary
Overturns the NCUA’s 2025 decision to stop publicly listing each credit union’s overdraft/NSF fee revenue, aiming to bring that information back into the open under the Congressional Review Act. (ncua.gov)
What It Does
This joint resolution (S.J.Res. 142) disapproves the NCUA’s “Withdrawal of Fee Reporting Requirements,” a March 3, 2025 policy change that ended public, institution‑level reporting of overdraft and nonsufficient‑fund fees and shifted collection of those data into confidential examinations. (ncua.gov)
GAO ruled on January 16, 2026 that NCUA’s withdrawal counts as a “rule” under the Congressional Review Act, opening it to congressional disapproval. If Congress passes the resolution and it becomes law, the withdrawal would have no force or effect, and CRA generally bars agencies from reissuing a substantially similar rule—practically restoring the prior requirement that large credit unions report these fees publicly through Call Reports. (gao.gov)
Why it matters: public, side‑by‑side fee transparency can help consumers, reporters, and community groups compare institutions; moving the data behind closed‑door exams limits that visibility to regulators and the credit unions themselves. (ncua.gov)
Who’s For It
- Sponsors: Senators Elizabeth Warren (MA), Cory Booker (NJ), and Richard Blumenthal (CT). They argue that ending public reporting hides costs tied to “junk fees” and have pressed credit unions for details on overdraft/NSF practices. (banking.senate.gov)
- Supporters also point to GAO’s determination that Congress can review—and, if it chooses, overturn—the NCUA withdrawal under the CRA. (gao.gov)
Who’s Against It
- NCUA leadership (Chairman Kyle S. Hauptman) backed the shift away from public, credit‑union‑level disclosures, saying publication created reputational pressure and could reduce service to low‑income members; the agency would still collect data in exams and publish only aggregate figures. (ncua.gov)
- Industry trade group America’s Credit Unions opposed mandatory public reporting of overdraft/NSF fees and asked NCUA to withhold those data from public release, citing legal and reputational risks and reporting burdens. (americascreditunions.org)
What’s Next
As of March 26, 2026, the resolution has been read twice and sent to the Senate Committee on Banking, Housing, and Urban Affairs. Next steps would be a committee vote, potential Senate and House floor votes, and then the President’s decision.
Discussion