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)".

House Joint Resolution

H.J.Res. 122

119th Congress

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)".

Placed on the Union Calendar, Calendar No. 516.

Introduced:Sep 17, 2025

Primary Sponsor

Garland Barr

Representative

Republican

KY-6

Cosponsors

21

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill seeks to nullify a recent rule from the Consumer Financial Protection Bureau that lowers the maximum late fees credit card companies can charge customers. If this bill passes, credit card late fees would not be subject to the new lower cap, allowing companies to continue charging higher late fees.

Latest Action

Placed on the Union Calendar, Calendar No. 516.

AI Summary

Plain-English explanation of this bill

This bill seeks to nullify a recent rule from the Consumer Financial Protection Bureau that lowers the maximum late fees credit card companies can charge customers. If this bill passes, credit card late fees would not be subject to the new lower cap, allowing companies to continue charging higher late fees.

Last updated: 12/29/2025

Official Summary

Congressional Research Service summary

<p>This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled <em>Credit Card Penalty Fees (Regulation Z)</em> 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. </p>

Key Points

Main provisions of the bill

Nullifies a rule that capped credit card late fees at $8 for large issuers
The rule was intended to limit late fees and protect consumers
If this bill passes, credit card companies could continue charging higher late fees

How This Impacts Americans

Potential effects on citizens and communities

This bill would primarily impact credit card holders, who could face higher late fees if the CFPB rule is overturned. Consumers, especially those living paycheck-to-paycheck, would have to pay more when making late credit card payments.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Related Subjects

Administrative law and regulatory procedures

Congressional oversight

Consumer Financial Protection Bureau

Financial services and investments

User charges and fees

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

122, 119th Congress (2025). "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)".". Source: Voter's Right Platform. https://votersright.org/bills/118-hjres-122