118th Congress · HOUSE JOINT RESOLUTIONBILL

H.J.Res. 85 — 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)".

“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)".”

Finance and financial sector

Introduced Aug 25, 2023

Last action Aug 25, 2023

Pipeline · Bill → Law

Step 1

Introduced

Aug 25, 2023

Step 2

Referred

Aug 25, 2023

Financial Services

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS 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.

Provisions · 1 sectionsIntroduced in House

Timeline · 2 actions

Aug 25, 2023

Introduced in House

Aug 25, 2023

Referred to the House Committee on Financial Services.