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Congress disapproves rule on national banks and federal savings associations as lenders.

This Congressional resolution aims to invalidate a rule issued by the Office of the Comptroller of the Currency concerning national banks and federal savings associations as lenders. This means the rule, which could have affected how these institutions lend money, will not take effect, potentially impacting loan availability and terms for citizens.
Key points
Congress opposes a new rule for banks and savings associations that would have defined their role as lenders.
This rule, published in October 2020, will have no legal force, meaning existing lending regulations remain in effect.
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Expired
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Additional Information
Print number: 117_HJRES_35
Sponsor: Rep. Garcia, Jesus G. "Chuy" [D-IL-4]
Process start date: 2021-03-26
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to "National Banks and Federal Savings Associations as Lenders".

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HJRES_35.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-26.

What are the main provisions?

Key points include:

  • Congress opposes a new rule for banks and savings associations that would have defined their role as lenders.
  • This rule, published in October 2020, will have no legal force, meaning existing lending regulations remain in effect.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Garcia, Jesus G. "Chuy" [D-IL-4].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy