Summary

Nullifies a specific Bureau of Consumer Financial Protection final rule on overdraft lending that was published December 30, 2024 (89 Fed. Reg. 106768). The law states that the CFPB rule "has no force or effect," so the agency may not enforce or implement that rule while this statutory language remains in place.

• Directly nullifies one named CFPB final rule on overdraft lending published Dec 30, 2024 (89 Fed. Reg. 106768).
• States that the named CFPB rule "has no force or effect," preventing its implementation or enforcement.
• Does not replace the rule with alternate regulatory language or appropriate new funding.
• Most immediately affects very large banks that would have been covered by the CFPB rule and their compliance operations.
• Also affects consumers who would have experienced changes under the CFPB overdraft rule, and the CFPB’s ability to enforce that specific regulation.
• Creates regulatory certainty that the named rule cannot be applied, but leaves underlying statutory authorities and other CFPB rules intact.
• Could prompt later administrative rulemaking, agency guidance, or litigation if similar policy aims are pursued again.