Overdraft Fee Notification Act

Referred to the House Committee on Financial Services.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Mar 12, 2009

Overdraft Fee Notification Act - Amends the Electronic Fund Transfer Act to prohibit a financial institution from imposing any fee or charge for consumer overdraft protection unless it notifies the consumer, in a specified manner, of the fee or charge for such protection before the transaction that would result in an overdraft is completed. Requires such notice for all in-person, automated, telephonic, and Internet-based financial transactions.

Requires financial institutions to disclose to the consumer in periodic statements the annual percentage rate of interest which any overdraft protection fee or charge represents.

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People & committees

Who introduced it

Rep. Meek, Kendrick B. [D-FL-17] · D–FL

Committees

Financial Services Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

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Mar 12, 2009
Referred to the House Committee on Financial Services.
Mar 12, 2009
Introduced in House
Mar 12, 2009
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Mar 12, 2009 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.

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Objective

Analyze H.R.1487 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss H.R.1487, 111th Congress: Overdraft Fee Notification Act

Official record: https://www.congress.gov/bill/111th-congress/house-bill/1487

Text version to examine: Introduced in House · 2009-03-12.

Official full text: https://www.congress.gov/111/bills/hr1487/BILLS-111hr1487ih.htm

Imported record last updated by the source: 2025-08-14T16:15:31Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.1487 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.1487 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss H.R.1487, 111th Congress: Overdraft Fee Notification Act

Official record: https://www.congress.gov/bill/111th-congress/house-bill/1487

Text version to examine: Introduced in House · 2009-03-12.

Official full text: https://www.congress.gov/111/bills/hr1487/BILLS-111hr1487ih.htm

Imported record last updated by the source: 2025-08-14T16:15:31Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.1487 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.1487 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.1487, 111th Congress: Overdraft Fee Notification Act

Official record: https://www.congress.gov/bill/111th-congress/house-bill/1487

Text version to examine: Introduced in House · 2009-03-12.

Official full text: https://www.congress.gov/111/bills/hr1487/BILLS-111hr1487ih.htm

Imported record last updated by the source: 2025-08-14T16:15:31Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.1487 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.1487 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.1487, 111th Congress: Overdraft Fee Notification Act

Official record: https://www.congress.gov/bill/111th-congress/house-bill/1487

Text version to examine: Introduced in House · 2009-03-12.

Official full text: https://www.congress.gov/111/bills/hr1487/BILLS-111hr1487ih.htm

Imported record last updated by the source: 2025-08-14T16:15:31Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.1487 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.