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Congress Rejects Small Business Lending Data Collection Rule

The U.S. Congress has disapproved a new rule from the Consumer Financial Protection Bureau (CFPB) concerning small business lending. This means the specific regulations, which aimed to collect data on small business credit applications, will not take effect. For small business owners, this implies no new reporting requirements related to these particular rules.
Key points
Congress disapproved the Consumer Financial Protection Bureau's (CFPB) rule on small business lending.
The rejected rule aimed to collect data on small business credit applications under the Equal Credit Opportunity Act.
The rule will not take effect, meaning no new data reporting obligations for small businesses under this specific regulation.
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Additional Information
Print number: 118_HJRES_66
Sponsor: Rep. Williams, Roger [R-TX-25]
Process start date: 2023-05-31
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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

Disapproving the rule submitted by the Consumer Financial Protection Bureau 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_66.

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 2023-05-31.

What are the main provisions?

Key points include:

  • Congress disapproved the Consumer Financial Protection Bureau's (CFPB) rule on small business lending.
  • The rejected rule aimed to collect data on small business credit applications under the Equal Credit Opportunity Act.
  • The rule will not take effect, meaning no new data reporting obligations for small businesses under this specific regulation.
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: Placed on the Union Calendar, Calendar No. 224.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Economy