3.0.0 3343 2023-01-11T13:41:41Z 2023-01-11T13:41:41Z Senate S 2018-08-01 115 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2018-08-01T22:39:49Z Overdraft Protection Act of 2017 115 3606 HR 2017-07-28 Referred to the House Committee on Financial Services. Related bill CRS 2018-08-01 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2018-08-01 Introduced in Senate IntroReferral 10000 9 Library of Congress B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ N B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2018-08-01 True Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Consumer Financial Protection Bureau Consumer credit Marketing and advertising Finance and Financial Sector 00 2018-08-01 Introduced in Senate 2019-04-24T20:51:26Z Stop Overdraft Profiteering Act of 2018

This bill amends the Truth in Lending Act to prohibit a depository institution from engaging in certain acts in connection with overdraft coverage.

Each depository institution that offers overdraft coverage for accounts must disclose overdraft coverage fees and certain related information.

A depository institution must provide certain other disclosures regarding its overdraft protection program, including prompt notification of the account's overdraft status.

The bill limits the number of overdraft fees a consumer may be charged each month and year, and provides that such fees must be reasonable.

The bill prohibits an overdraft coverage fee if the overdraft results solely from a debit hold amount that exceeds the actual dollar amount of the transaction.

The bill also prohibits a depository institution from:

  • charging a non-sufficient fund fee for any debit card transaction, or
  • reporting negative information regarding consumer use of overdraft coverage to any consumer reporting agency when the overdraft amounts and coverage fees are paid under the terms of an overdraft coverage program.
]]> Stop Overdraft Profiteering Act of 2018 Display Title Stop Overdraft Profiteering Act of 2018 Official Title as Introduced A bill to amend the Truth in Lending Act to limit overdraft fees and establish fair and transparent practices related to the marketing and provision of overdraft coverage programs at depository institutions, and for other purposes. Introduced in Senate IS Short Titles as Introduced Stop Overdraft Profiteering Act of 2018 Introduced in Senate 2018-08-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s3343is/xml/BILLS-115s3343is.xml 2018-08-01 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.