Republicans Invoke The CRA To Repeal Chopra-Era Rules

The Republican-led Congress has invoked the Congressional Review Act (CRA) in attempts to revoke final rules that former CFPB Director Chopra issued toward the end of Biden's Administration. Under the CRA, Congress can repeal an agency's final rule by passing a joint resolution of disapproval by simple majority vote. The CRA contains a lookback provision that allows the succeeding Congress to disapprove of rules finalized during the last 60 working days of the preceding Congress. Congressional Republicans are using this lookback provision to target at least four of these Chopra-era rules:

• Overdraft Lending Rule: On February 13, 2025, Senate and House Republicans introduced a joint resolution to revoke the Overdraft Lending: Very Large Financial Institutions Final Rule. Under this rule, previously covered here, financial institutions with over $10 billion in assets could be subject to a $5 cap on overdraft fees. On March 27, the resolution passed in the Senate. But