Ohio Bankers League

07/27/2022 | Press release | Distributed by Public on 07/27/2022 08:46

House Holds Markup to Advance Overdraft Restrictions

07/27/22

The House Financial Services Committee is scheduled to pass many pieces of legislation including one to which the OBL is adamantly opposed. The committee is attempting to pass an overdraft reform bill that was pulled from the markup at the last minute. The bill is sponsored by Rep. Carolyn Maloney (D-NY) which would limit the number of times an overdraft fee could be charged to a customer, while requiring that customer to opt in to overdraft coverage compared to the current opt out program. The OBL is opposed to the legislation and has already been in touch with all Ohio Congressional offices to advocate against the bill.

Below is the full list of legislation slated for a vote.

H.R. 1728, the "Strategy and Investment in Rural Housing Preservation Act of 2021."

  • An amendment in the nature of a substitute, no. 1, offered by Mrs. Axne.

H.R. 2965, the "Naomi Schwartz Safe Parking Act of 2022."

  • An amendment in the nature of a substitute, no. 2, offered by Mr. Vargas.

H.R. 4277, the "Overdraft Protection Act of 2021."

  • An amendment in the nature of a substitute, no.3, offered by Mrs. Maloney.

H.R. 4865, the "Registration for Index-Linked Annuities Act."

  • An amendment in the nature of a substitute,no. 4, offered by Ms. Adams.

H.R. 6889, the "Credit Union Board Modernization Act."

  • An amendment in the nature of a substitute,no. 5, offered by Mr. Vargas.

H.R. 7123, the ""Studying Barriers to Housing Act."

  • An amendment in the nature of a substitute, no. 6, offered by Ms. Garcia (TX).

H.R. 8484, the "Aligning SEC Regulations for the World Bank's International Development Association Act."

  • An amendment in the nature of a substitute, no. 7, offered by Ms. Waters.

H.R. 8476, the "Housing Inspections Accountability Act of 2022."

  • An amendment in the nature of a substitute, no. 8, offered by Ms. Ocasio-Cortez.

H.R. 8485, the "Expanding Access to Credit through Consumer-Permissioned Data Act."

  • An amendment in the nature of a substitute,no. 9, offered by Ms. Williams.

H.R. 8478, the "Credit Reporting Accuracy After a Legal Name Change Act."

  • An amendment in the nature of a substitute, no. 10, offered by Ms. Pressley.