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Congress Rejects Rule on Banks and Lenders

The United States Congress has rejected a rule concerning how national banks and federal savings associations operate as lenders. This means the specific rule will not take effect and will not impact how these institutions provide loans, maintaining the previous regulations.
Key points
Congress disapproved a rule about banks and lending.
The rejected rule will have no legal effect.
This prevents changes to how banks and savings associations act as lenders that the rule would have introduced.
article Official text account_balance Process page
VOTING RESULTS
2021-06-24
51%
For 218
Against 208
Abstain 0
Full voting results open_in_new
Became Law
Citizen Poll
No votes cast
Additional Information
Print number: 117_SJRES_15
Sponsor: Sen. Van Hollen, Chris [D-MD]
Process start date: 2021-03-25
Voting date: 2021-06-24
Meeting no: 1
Voting no: 181
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Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of 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_SJRES_15.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-25.

What are the main provisions?

Key points include:

  • Congress disapproved a rule about banks and lending.
  • The rejected rule will have no legal effect.
  • This prevents changes to how banks and savings associations act as lenders that the rule would have introduced.
What is the specific legal status?

The current status is Became Law.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Sen. Van Hollen, Chris [D-MD].

What is the latest detailed status?

The latest detailed status is: Became Public Law No: 117-24.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy