House
Aug 25, 2023Providing 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)".
Summary
Official
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.
Bill Progress
Bill has been introduced and assigned a number
Introduced(8/25/23)
Committee
Passed
House
Passed
Senate
President
Law
Sponsor
RW
Mr. Williams
House (R) Texas – 25
Cosponsors (2)
Topics
Latest Action
Referred to the House Committee on Financial Services.
Aug 25, 2023