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Nullifies a recently issued consumer-finance rule by the Consumer Financial Protection Bureau that addressed overdraft lending at very large banks. The rule cited (published Dec. 30, 2024) is declared to have no force or effect, so it cannot be implemented or enforced.
Official title: Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Introduced February 13, 2025 by Tim Scott · Last progress May 9, 2025