118th Congress Finance and Financial Sector
H.J.Res. 85: Disapproval of Bureau of Consumer Financial Protection rule: Small Business Lending Under the Equal Credit Opportunity Act (Regulation B)
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Small Business Lending Under the Equal Credit Opportunity Act (Regulation B)".
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled Small Business Lending under the Equal Credit Opportunity Act (Regulation B) and published on May 31, 2023. The rule requires financial institutions to collect and report to the bureau credit application data for small businesses. On July 31, 2023, the U.S. District Court for the Southern District of Texas ordered the bureau not to implement or enforce the rule until a related pending case is resolved.
Written by the Congressional Research Service, Library of Congress.
Roll calls
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Amendments
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Cosponsors
- Garland Barr R-KYOriginal
- Andrew Ogles R-TNOriginal
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Other bills by Roger Williams
History
- Introduced in the House by Roger Williams.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Financial Services.