Contact Congress about S.J.Res. 18: A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".

Very large banks do not have to follow the CFPB’s canceled overdraft rule. The rule has no legal effect, and the agency is generally blocked from making a very similar rule unless Congress allows it.

Modern Action explains what the legislation does, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.

A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions". is a Senate bill signed into law. The latest recorded action: Became Public Law No: 119-10.

Latest action on S.J.Res. 18: Became Public Law No: 119-10.

Who this affects: This bill mainly affects very large banks and similar financial institutions that would have had to follow the CFPB overdraft rule. It also affects consumers with accounts at those institutions, because the canceled rule may have changed overdraft fees or practices. The CFPB is affected too, because it cannot enforce this rule and is generally limited from issuing a very similar one without Congress.

Why this matters: This matters because overdraft fees can affect many checking account customers, and this law stops a new federal rule for very large banks. Banks covered by the rule avoid a new set of CFPB requirements. Consumers will not see the changes that rule would have made, though this law does not say exactly what those changes were. It also matters because Congress used a tool that can block the agency from trying again with a very similar rule.

Key provisions in S.J.Res. 18

• Uses the Congressional Review Act, a law that lets Congress cancel recent federal agency rules, to reject a CFPB regulation.
• Cancels the CFPB’s final rule called “Overdraft Lending: Very Large Financial Institutions.” The rule appeared in the Federal Register on December 30, 2024, at 89 Fed. Reg. 106768.
• Makes the canceled rule legally powerless. The CFPB cannot put it into action or enforce it.
• Generally stops the CFPB from writing a new rule that is basically the same. Congress would have to give new approval first.
• Does not set up a new regulatory program or add new consumer protections. It only wipes out this one existing rule.

How Modern Action helps you take action on S.J.Res. 18

You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.

Questions people ask about S.J.Res. 18

What is S.J.Res. 18?

Very large banks do not have to follow the CFPB’s canceled overdraft rule. The rule has no legal effect, and the agency is generally blocked from making a very similar rule unless Congress allows it.

How do I support or oppose S.J.Res. 18?

Choose support, oppose, or ask for changes on Modern Action. The action flow drafts the message for you and keeps the wording tied to this bill.

Who should I contact about S.J.Res. 18?

Modern Action uses your location to route the action to the congressional offices relevant to the bill and your representation.

How does Modern Action help me act on S.J.Res. 18?

Modern Action gives you bill-specific context, lets you choose support, opposition, or changes, and drafts a message from your position and reasons.