A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to "Preemption Determination: State Interest-on-Escrow Laws".
The source supplies the latest action, but no lifecycle stage.
Latest action (29 Jul 2026): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
What this bill does
This joint resolution, S.J.Res. 203, would prevent a rule from the Office of the Comptroller of the Currency (OCC) from taking effect. The OCC rule in question concerns "Preemption Determination: State Interest-on-Escrow Laws." If this resolution becomes law, the OCC's rule would be voided.
The resolution specifically targets a rule from the OCC that deals with whether federal law overrides state laws requiring interest to be paid on money held in escrow accounts. The bill does not specify which states or types of escrow accounts are affected beyond the general subject matter of the OCC rule.
S.J.Res. 203 was introduced in the Senate by Senator Reed and has been referred to the Committee on Banking, Housing, and Urban Affairs. It has not yet been voted on by any committee or by the full Senate or House of Representatives. If passed by both chambers, it would be sent to the President.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
29 Jul 2026
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Common questions
- What does S.J.Res. 203 do?
- This joint resolution, S.J.Res. 203, would prevent a rule from the Office of the Comptroller of the Currency (OCC) from taking effect. The OCC rule in question concerns "Preemption Determination: State Interest-on-Escrow Laws." If this resolution becomes law, the OCC's rule would be voided. The resolution specifically targets a rule from the OCC that deals with whether federal law overrides state laws requiring interest to be paid on money held in escrow accounts. The bill does not specify which states or types of escrow accounts are affected beyond the general subject matter of the OCC rule. S.J.Res. 203 was introduced in the Senate by Senator Reed and has been referred to the Committee on Banking, Housing, and Urban Affairs. It has not yet been voted on by any committee or by the full Senate or House of Representatives. If passed by both chambers, it would be sent to the President.
- Has S.J.Res. 203 become law?
- The source does not supply a confirmed lifecycle stage for S.J.Res. 203. Check the latest action and official source below.
- Who sponsored S.J.Res. 203?
- S.J.Res. 203 was sponsored by Sen. Reed, Jack [D-RI] (D-RI), with 0 cosponsors.
- What's the latest action on S.J.Res. 203?
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (29 Jul 2026).
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