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 "Credit Card Penalty Fees (Regulation Z)".
Latest action · Apr 8, 2024 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this resolution reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 8, 2024
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled Credit Card Penalty Fees (Regulation Z) and published on March 15, 2024. The rule lowers the safe-harbor cap on certain credit card late fees. In particular, late fees allowed under safe-harbor provisions must be capped at $8 when charged by a large credit card issuer. This cap is not subject to annual adjustment to reflect inflation.
Cosponsors 15
Members who signed on, in the order they did. Signatures ran from Apr 8, 2024 to Apr 18, 2024, with 13 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-TN | Bill Hagerty | Original | Apr 8, 2024 |
| R-KS | Jerry Moran | Original | Apr 8, 2024 |
| R-WY | John Barrasso | Original | Apr 8, 2024 |
| R-AR | John Boozman | Original | Apr 8, 2024 |
| R-SD | John Thune | Original | Apr 8, 2024 |
| R-AL | Katie Boyd Britt | Original | Apr 8, 2024 |
| R-ND | Kevin Cramer | Original | Apr 8, 2024 |
| R-TN | Marsha Blackburn | Original | Apr 8, 2024 |
| R-IN | Mike Braun | Original | Apr 8, 2024 |
| R-SD | Mike Rounds | Original | Apr 8, 2024 |
| R-MT | Steve Daines | Original | Apr 8, 2024 |
| R-NC | Ted Budd | Original | Apr 8, 2024 |
| R-NC | Thom Tillis | Original | Apr 8, 2024 |
| R-UT | Mike Lee | Apr 18, 2024 | |
| R-AL | Tommy Tuberville | Apr 18, 2024 |
Actions 2
Everything that happened, newest first.
- Apr 8, 2024Introduced in Senate
- Apr 8, 2024Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Related bills 2
Companion bills and other measures the record links to this one.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Apr 8, 2024Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this resolution on Congress.gov and govinfo.gov.
