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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Stop Overdraft Profiteering Act of 2019

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Truth in Lending Act to limit overdraft fees and establish fair and transparent practices related to the marketing and provision of overdraft coverage programs at depository institutions, and for other purposes.

Actions Overview (1)

Date Actions Overview
05/22/2019Introduced in Senate

All Actions (1)

Date All Actions
05/22/2019Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Action By: Senate

Cosponsors (1)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Brown, Sherrod [D-OH]* 05/22/2019

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Banking, Housing, and Urban Affairs05/22/2019 Referred to

As of 04/09/2020 no related bill information has been received for S.1595 - Stop Overdraft Profiteering Act of 2019

Latest Summary (1)

There is one summary for S.1595. View summaries

Shown Here:
Introduced in Senate (05/22/2019)

Stop Overdraft Profiteering Act of 2019

This bill prohibits a depository institution from engaging in certain acts in connection with overdraft coverage.

Each depository institution that offers overdraft coverage for accounts must disclose overdraft coverage fees and certain related information. A depository institution must provide certain other disclosures regarding its overdraft protection program, including prompt notification of the account's overdraft status.

The bill limits the number of overdraft fees a consumer may be charged each month and year and provides that such fees must be reasonable.

The bill prohibits an overdraft coverage fee if the overdraft results solely from a debit hold amount that exceeds the actual dollar amount of the transaction.

The bill also prohibits a depository institution from

  • charging a non-sufficient fund fee for any debit card transaction, or
  • reporting negative information regarding consumer use of overdraft coverage to any consumer reporting agency when the overdraft amounts and coverage fees are paid under the terms of an overdraft coverage program.