Trump Signs Law Repealing CFPB Overdraft Rule

President Trump has signed into law a Congressional Review Act (CRA) resolution, effectively repealing the Biden Administration’s CFPB final rule on overdraft fees. See prior WBK coverage here.

The rule would have capped overdraft fees at $5 for large banks and credit unions or require them to treat overdrafts as loans with specific disclosures.  The repealed rule, which was set to take effect on October 1, 2025, had faced strong opposition from financial trade groups.