H.J.Res. 85 · 118th Congress · House

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)".

Active· Referred to the House Committee on Financial Services.
Introduced
Aug 25, 23
Passed House
Pending
Passed Senate
Pending
Sent to President
Pending
Signed into Law
Pending

Executive 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.

Action Timeline

3
  1. AUG 25, 2023IntroReferral

    Introduced in House

  2. AUG 25, 2023IntroReferral

    Introduced in House

  3. AUG 25, 2023IntroReferral

    Referred to the House Committee on Financial Services.

Committees

1

Financial Services Committee

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Referred: Aug 25, 2023

Active