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Congressional Disapproval of Small Business Lending Data Collection Rule

This Congressional resolution aims to block a new rule (Regulation B) from the Consumer Financial Protection Bureau (CFPB). The rule would require financial institutions to collect and report detailed data on small business loans, including information on the race, sex, and ethnicity of the owners. If the resolution is passed, these data collection requirements will not take effect, meaning lenders will not have to disclose this information, potentially making it harder to assess equal access to credit for small businesses.
Key points
Blocking New Rules: Congress seeks to nullify the CFPB rule requiring data collection on small business lending (Regulation B).
No Reporting Obligation: If the resolution passes, lenders will not be required to collect and disclose demographic information (e.g., gender, race) of small business owners applying for credit.
Impact on Equal Credit Access: The absence of this data may hinder the monitoring and detection of potential discrimination in the small business lending process.
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Additional Information
Print number: 118_HJRES_50
Sponsor: Rep. Williams, Roger [R-TX-25]
Process start date: 2023-04-03
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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 Bureau of Consumer Financial Protection relating to "Small Business Lending Under the Equal Credit Opportunity Act (Regulation B)".

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HJRES_50.

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 2023-04-03.

What are the main provisions?

Key points include:

  • Blocking New Rules: Congress seeks to nullify the CFPB rule requiring data collection on small business lending (Regulation B).
  • No Reporting Obligation: If the resolution passes, lenders will not be required to collect and disclose demographic information (e.g., gender, race) of small business owners applying for credit.
  • Impact on Equal Credit Access: The absence of this data may hinder the monitoring and detection of potential discrimination in the small business lending process.
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. Williams, Roger [R-TX-25].

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 2025-12-30.

CATEGORIES

Economy Courts and Law