US Federal Senate Bill SJR130

US Federal 2025-2026 Regular Session

• Introduced: 5/13/26
• Introduced: 3/18/26
• Refer: 3/18/26

Caption

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to withdrawal of the rule relating to "Consumer Financial Protection Circular 2024-05: Improper Overdraft Opt-In Practices".

Summary

SJR130 is a congressional disapproval resolution under the Congressional Review Act that targets a Consumer Financial Protection Bureau action withdrawing CFPB Circular 2024-05 on improper overdraft opt-in practices. If enacted, the resolution would nullify the CFPB’s withdrawal rule and leave the underlying circular in effect, preserving the agency’s guidance on how banks and other financial institutions should handle overdraft opt-in disclosures and related practices. The measure is narrowly focused on consumer banking regulation, specifically overdraft fees and opt-in procedures for deposit accounts. It does not create a new regulatory regime; instead, it uses Congress’s CRA authority to overturn a later agency action and restore the prior CFPB position. Its practical effect would be to influence how financial institutions structure and market overdraft programs and how consumers are informed about consent requirements.

Impact

If approved, the joint resolution would make the CFPB’s withdrawal of Circular 2024-05 have no force or effect, thereby preserving the agency’s original overdraft opt-in guidance. The bill would affect the Bureau of Consumer Financial Protection and regulated banks, credit unions, and other deposit-account providers that offer overdraft services. It would not amend the U.S. Code directly, but it would alter the legal status of the agency action under chapter 8 of title 5, the Congressional Review Act.

Sentiment

The available voting history suggests the resolution faced significant resistance in the Senate: a motion to proceed was rejected 47-53. That result indicates the measure did not have majority support at that stage, even though it advanced procedurally far enough to be considered on the calendar. The overall sentiment appears divided along familiar lines of consumer-protection oversight versus opposition to CFPB regulatory actions.

Contention

The main point of contention is whether Congress should overturn the CFPB’s decision to withdraw its overdraft guidance. Supporters are likely to view the resolution as preserving consumer protections and preventing banks from weakening opt-in standards for overdraft fees. Opponents are likely to argue that the CFPB should have discretion to revise or withdraw its own guidance and that Congress should not use the CRA to lock in agency policy on overdraft practices. The dispute centers on consumer protection, bank compliance burdens, and the scope of congressional oversight of financial regulators.