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LD142 • 2025

Resolve, Directing the Bureau of Financial Institutions to Issue Guidance Related to the Charging of Multiple Fees for Attempted Withdrawals Involving Insufficient Funds

Resolve, Directing the Bureau of Financial Institutions to Issue Guidance Related to the Charging of Multiple Fees for Attempted Withdrawals Involving Insufficient Funds

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Senator James Libby
Last action
2025-05-29
Official status
Signed by the Governor
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Resolve, Directing the Bureau of Financial Institutions to Issue Guidance Related to the Charging of Multiple Fees for Attempted Withdrawals Involving Insufficient Funds

Resolve, Directing the Bureau of Financial Institutions to Issue Guidance Related to the Charging of Multiple Fees for Attempted Withdrawals Involving Insufficient Funds Sponsor: Senator James Libby Reference committee: Health Coverage, Insurance and Financial Services Governor action: Signed by the Governor

What This Bill Does

  • Resolve, Directing the Bureau of Financial Institutions to Issue Guidance Related to the Charging of Multiple Fees for Attempted Withdrawals Involving Insufficient Funds Sponsor: Senator James Libby Reference committee: Health Coverage, Insurance and Financial Services Governor action: Signed by the Governor

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

Adopted by House & Senate

Plain English: Page 1 - 132LR0230(02) COMMITTEE AMENDMENT 1 L.D.

  • Page 1 - 132LR0230(02) COMMITTEE AMENDMENT 1 L.D.
  • 142 2 Date: (Filing No.
  • S- ) 3HEALTH COVERAGE, INSURANCE AND FINANCIAL SERVICES 4 Reproduced and distributed under the direction of the Secretary of the Senate.
  • 5STATE OF MAINE 6SENATE 7132ND LEGISLATURE 8FIRST SPECIAL SESSION 9 COMMITTEE AMENDMENT “ ” to S.P.

Bill History

  1. 2025-05-29 Governor

    Signed by the Governor

  2. 2025-05-27 House

    FINALLY PASSED . Sent for concurrence. ORDERED SENT FORTHWITH.

  3. 2025-05-27 Senate

    FINALLY PASSED , in concurrence.

  4. 2025-05-15 Committee

    Reported Out; OTP-AM/ONTP

  5. 2025-02-12 Committee

    Work Session Held

  6. 2025-02-12 Committee

    Voted; Divided Report

  7. 2025-01-14 Committee

    Referred to Committee on Health Coverage, Insurance and Financial Services.

Official Summary Text

Resolve, Directing the Bureau of Financial Institutions to Issue Guidance Related to the Charging of Multiple Fees for Attempted Withdrawals Involving Insufficient Funds
Sponsor:
Senator James Libby
Reference committee:
Health Coverage, Insurance and Financial Services
Governor action:
Signed by the Governor

Current Bill Text

Read the full stored bill text 
Page 1 - 132LR0230(03)
STATE OF MAINE
_____
IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-FIVE
_____
S.P. 78 - L.D. 142
Resolve, Directing the Bureau of Financial Institutions to Issue Guidance
Related to the Charging of Multiple Fees for Attempted Withdrawals
Involving Insufficient Funds
Sec. 1. Guidance related to charging multiple fees for attempted
withdrawals involving insufficient funds. Resolved: That, no later than January 1,
2026, the Department of Professional and Financial Regulation, Bureau of Financial
Institutions shall issue written guidance to state-chartered financial institutions and credit
unions on the charging of multiple fees for attempted withdrawals involving insufficient
funds. Before developing the written guidance required by this section, the bureau shall
review any guidance issued by the Federal Deposit Insurance Corporation and the National
Credit Union Administration related to overdraft and insufficient funds fees and consult
with statewide associations representing state-chartered financial institutions and credit
unions.
APPROVED
MAY 29, 2025
BY GOVERNOR
CHAPTER
38
RESOLVES