A Senate bill that would rescind a Biden-era Consumer Financial Protection Bureau rule on overdraft protection is headed for a vote in the House of Representatives on Wednesday afternoon.
House Majority Whip Tom Emmer, R-Minn., told The Daily Signal that the regulation issued by the Biden administration would have led to few financial options for Americans.
“The Biden administration’s last-minute [Consumer Financial Protection Bureau] rule on overdraft protection is just one example of its gross regulatory overreach. House Republicans are rightly nullifying the rule, which would have burdened banks and credit unions, led to fewer options for Americans, and taken away critical financial services for millions of Americans across the country,” Emmer said.
The bill is expected to pass the Republican-led lower chamber and has already passed the Senate through a…
