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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)".

H.J.Res. 122 Rep. Andy Barr (R-KY-6) In committee
Bill text PDF
  1. Introduced Mar 29
  2. Committee Mar 29
  3. Passed House Next
  4. Passed Senate Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Mar 29, 2024Next: House vote
820d ago Jul 30, 2024: Placed on the Union Calendar, Calendar No. 516.
Final votes
No roll callsNo recorded vote on this bill yet
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1company, 1 filing
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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.

Library of Congress summary, Mar 29, 2024

Summary versions
  • Introduced in HouseMar 29, 2024

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.