The mechanism: In December 2024, the CFPB finalized a rule capping overdraft fees at large banks at $5 (or a cost-justified alternative), replacing the typical $35 charge. It never took effect. Congress killed it first — using the Congressional Review Act, both chambers passed S.J.Res. 18 disapproving the rule, and President Trump signed it into law (P.L. 119-10) in May 2025. Under the CRA, that's not a delay; the CFPB is now barred from issuing a "substantially similar" overdraft rule ever again without new statutory authority. The cap didn't get finalized — it got permanently buried. That repeal is the catalyst, and it doesn't hit banks uniformly, because banks didn't enter this fight from the same starting line.

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