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)".

Bill: 118-hjres-85
Sponsor: full_name: Rep. Williams, Roger [R-TX-25]
Introduced: 2023-08-25
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation

Congressional-executive branch relations

Consumer Financial Protection Bureau

Credit and credit markets

Small business
Latest action: action_date: 2023-08-25
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2023-08-25
action_desc: Introduced in House
text: <p>This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled <i>Small Business Lending under the Equal Credit Opportunity Act (Regulation B)</i> 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.</p>

tv_txt: IA 118th CONGRESS 1st Session H. J. RES. 85 IN THE HOUSE OF REPRESENTATIVES August 25, 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 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) .

That Congress disapproves the rule submitted by the Bureau of Consumer Financial Protection relating to Small Business Lending Under the Equal Credit Opportunity Act (Regulation B) (88 Fed. Reg. 35150 (May 31, 2023)), and such rule shall have no force or effect.