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Overdraft Fees Final Rules Congressional Review Act

Orrick, Herrington & Sutcliffe LLP

Congress overturns two CFPB rules via congressional review

On April 9, the House of Representatives passed two resolutions that it received from the Senate, overturning two CFPB rules from the Biden administration. The House considered S.J. Res. 18, disapproving the CFPB’s final rule...more

Husch Blackwell LLP

The State of the CFPB During a Fraught Transition Period: Part II

Husch Blackwell LLP on

It has been a little over two months since President Donald Trump returned to office, and since then, the Consumer Financial Protection Bureau (CFPB) has been in flux—to put it mildly. As of this writing, it is unclear...more

Troutman Pepper Locke

House Passes Two CRA Resolutions Rolling Back CFPB’s Overdraft and Digital Payment Rules

Troutman Pepper Locke on

On April 9, the House of Representatives passed two Congressional Review Act (CRA) joint resolutions aimed at nullifying certain Consumer Financial Protection Bureau (CFPB) rules finalized in the final days of the...more

Holland & Knight LLP

CFPB's Overdraft Rule and Big Tech Payment Apps Rule Set for Repeal After Congressional Votes

Holland & Knight LLP on

Among other significant rulemakings that the Consumer Financial Protection Bureau (CFPB) finalized in the waning days of the Biden Administration were 1) an overdraft fees final rule that applies to banks and credit unions...more

Goodwin

Republicans Invoke the CRA to Repeal Chopra-Era Rules

Goodwin on

The Republican-led Congress has invoked the Congressional Review Act (CRA) in attempts to revoke final rules that former CFPB Director Chopra issued toward the end of Biden’s Administration....more

Morrison & Foerster LLP

Leaning In: The CFPB Publishes Rule on Fees for Overdraft Services

On December 30, 2024, the Consumer Financial Protection Bureau (CFPB) published a final rule that may dramatically change the way that certain large financial institutions offer overdraft services to consumers. Under the...more

Bradley Arant Boult Cummings LLP

CFPB Announces Final Rule Closing “Overdraft Loophole” Created by TILA 

On December 12, 2024, the Consumer Financial Protection Bureau (CFPB) announced its final rule, redefining overdraft fees as finance charges in order to limit overdraft fees. The final rule seeks to regulate how overdraft...more

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