The U.S. Senate voted Thursday (March 27) to repeal the Consumer Financial Protection Bureau’s final rule capping overdraft fees. By a 52-48 vote, the Senate passed the joint resolution introduced by Senate Banking Committee Chairman Tim Scott of South Carolina, according to a roll call...
Wednesday’s (March 5) actions in Congress against two Consumer Financial Protection Bureau (CFPB) rules — one governing digital payments providers, the other focused on bank overdraft fees — open up a new front against the embattled agency. But the joint resolutions of disapproval, part of...
Two rules announced by the Consumer Financial Protection Bureau (CFPB) during the Biden administration suffered setbacks in Congress on Wednesday (March 5). The Senate voted Wednesday to approve a joint resolution (S.J. Res. 28) disapproving of the “Defining Larger Participants of a Market for General-Use...
Congressional Review Act (CRA) resolutions introduced Thursday (Feb. 13) in the U.S. House and Senate would overturn the Consumer Financial Protection Bureau’s (CFPB) final rule capping overdraft fees. The resolutions were introduced by House Financial Service Committee Chairman French Hill, R-Ark., and Senate Banking Committee...
March 05, 2024
Call it a form of fixed pricing in the banking industry. Financial services are joining the ranks of segments, such as pharma, where there are rules governing what enterprises can charge customers. And there may be some unintended consequences as a result. The Consumer Financial Protection Bureau finalized Tuesday (March 5) a rule that cuts what it […]
January 17, 2024
Labels are popular on Capitol Hill. And this week the labels are flying fast and furiously, aimed at big banks and credit unions. The Consumer Financial Protection Bureau (CFPB) put...
January 04, 2024
The calendar has barely turned to a new year — and the Consumer Financial Protection Bureau (CFPB) has already had a fair share of criticism. The most recent volley against...
October 12, 2023
Present economic and financial challenges have compelled individuals from various income brackets and credit backgrounds to resort to overdrafts — a form of credit whereby a consumer’s bank covers a...
April 09, 2025
The Consumer Financial Protection Bureau’s (CFPB) final rule capping overdraft fees is set to be repealed after the House of Representatives voted Wednesday (April 9) to disapprove it. The House passed the joint resolution (S.J.Res.18) by a 217-211 vote, according to the website of the Office of the Clerk of the House of Representatives. With […]
March 27, 2025
The U.S. Senate voted Thursday (March 27) to repeal the Consumer Financial Protection Bureau’s final rule capping overdraft fees. By a 52-48 vote, the Senate passed the joint resolution introduced...
March 05, 2025
Two rules announced by the Consumer Financial Protection Bureau (CFPB) during the Biden administration suffered setbacks in Congress on Wednesday (March 5). The Senate voted Wednesday to approve a joint...
February 13, 2025
Congressional Review Act (CRA) resolutions introduced Thursday (Feb. 13) in the U.S. House and Senate would overturn the Consumer Financial Protection Bureau’s (CFPB) final rule capping overdraft fees. The resolutions...
