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House votes to overturn Biden-era rule limiting bank overdraft fees to $5, sends to Trump to sign

The House voted to overturn a Biden-era rule limiting bank overdraft fees.
Republicans said the rule, adopted late in Biden's term, was 'disastrous'.
The rule would have capped overdraft fees at $5 and supervised tech firms offering payment services.
The House resolution passed 217-211, and banks collect roughly $8 billion annually in overdraft fees.
If President Donald Trump signs it, the resolution rescinds the rule, potentially saving banks billions.

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WHNT 19 News

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Impacts of overdraft charges on consumers

HUNTSVILLE, Ala. (WHNT) — The House of Representatives voted against a Biden-era regulation putting a ceiling on overdraft fees, sending the resolution to President Trump's desk for a signature. The Biden Administration finalized a rule from the Consumer Financial Protection Bureau (CFPB) to cap the fees at $5. The rule is set to go into effect October 1 of this year. If President Trump signs the resolution from Congress, it will not go into eff…

1 day ago·Huntsville, United States

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tfppwire.com

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Congress Repeals Another Biden Climate Regulation

Congress just overturned a Biden-era rule banning certain gas water heaters by 2029. Lawmakers say it would have cost families more and hurt American jobs. Key Facts: Senate voted 52-42 to repeal the Biden-era gas water heater ban. All Republican Senators voted for repeal; two Democrats—Sens. Jon Ossoff and Raphael Warnock—joined them. Sen. Ted Cruz led the repeal, warning of $450 in extra costs per unit. Rinnai America said the rule threatened…

2 days ago

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NWAHOMEPAGE

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French Hill's resolution that would overturn cap on overdraft fees heads to Trump's desk

WASHINGTON (KNWA/KFTA) — A resolution recently introduced by Arkansas Congressman French Hill has passed the House and is headed to President Donald Trump's desk. The resolution, introduced by Hill and Sen. Tim Scott (R-South Carolina) in February, would overturn the Consumer Financial Protection Bureau (CFPB) rule that was implemented in December 2024 in the final days of former President Joe Biden’s term. Representative French Hill, a Republic…

2 days ago

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Sludge

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House Republicans Vote to Kill the CFPB’s $5 Overdraft Fee Cap

💥Share this on Bluesky or XOn Wednesday, the Republican-controlled House passed two resolutions along party lines overturning rules—on capping bank overdraft fees and oversight of consumer payment apps—that were adopted in the last months of 2024 by the Consumer Financial Protection Bureau (CFPB). The votes represent major wins for the consumer banking industry and Big Tech companies that offer—or are planning to offer—digital wallet services. …

3 days ago

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The Epoch Times

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House Votes to Repeal Biden-Era Rule Restricting Bank Overdraft Fees

The U.S. House voted to overturn a rule limiting the fees banks charge for overdraft services, with the measure now awaiting approval from President Donald Trump. The rule was announced by the Consumer Financial Protection Bureau (CFPB) in December 2024 and was set to come into effect in October this year. In February, Sen. Tim Scott (R-S.C.) and Rep. French Hill (R-Ark.) introduced a resolution to overturn the overdraft fee cap. On Wednesday, t…

3 days ago·New York, United States

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