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.
[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 66 Introduced in House (IH)]
<DOC>
118th CONGRESS
1st Session
H. J. RES. 66
Disapproving the rule submitted by the Consumer Financial Protection
Bureau relating to ``Small Business Lending Under the Equal Credit
Opportunity Act (Regulation B)''.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
May 31, 2023
Mr. Williams of Texas (for himself, Mr. Barr, and Mr. Ogles) submitted
the following joint resolution; which was referred to the Committee on
Financial Services
_______________________________________________________________________
JOINT RESOLUTION
Disapproving the rule submitted by the Consumer Financial Protection
Bureau relating to ``Small Business Lending Under the Equal Credit
Opportunity Act (Regulation B)''.
Resolved by the Senate and House of Representatives of the United
States of America in Congress assembled, That Congress disapproves the
rule submitted by the Consumer Financial Protection Bureau relating to
``Small Business Lending Under the Equal Credit Opportunity Act
(Regulation B)'' (88 Fed. Reg. 35150), and such rule shall have no
force or effect.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held
Ordered to be Reported by the Yeas and Nays: 29 - 21.
Reported by the Committee on Financial Services. H. Rept. 118-279.
Reported by the Committee on Financial Services. H. Rept. 118-279.
Placed on the Union Calendar, Calendar No. 224.
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