Congress overturns two CFPB rules via congressional review
By EsqSocial Corporation 14/04/25
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 on “Overdraft Lending: Very Large Financial Institutions” (the Overdraft Rule), finalized in December 2024, which aimed to restrict the overdraft fees charged by large financial institutions (as covered by InfoBytes here). Previously, the House had introduced H.J. Res. 59,...
By: Orrick, Herrington & Sutcliffe LLP