arrow_back Back to App

Congressional Disapproval of Small Business Lending Rule

This Congressional resolution aims to nullify new regulations on small business lending introduced by the Bureau of Consumer Financial Protection. This means that rules for collecting data on credit applications from small businesses will not take effect, potentially influencing how banks and other financial institutions grant loans. For small business owners, this could mean no changes to the loan application process, compared to what might have changed if the new regulations had been implemented.
Key points
Congress disapproves new rules for collecting data on small business loans.
The Consumer Financial Protection Bureau's rules on equal credit opportunity for small businesses will not be enforced.
No changes to how small business loan data is reported, potentially affecting the availability and transparency of credit information.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HJRES_85
Sponsor: Rep. Williams, Roger [R-TX-25]
Process start date: 2023-08-25
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

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_85.

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 2023-08-25.

What are the main provisions?

Key points include:

  • Congress disapproves new rules for collecting data on small business loans.
  • The Consumer Financial Protection Bureau's rules on equal credit opportunity for small businesses will not be enforced.
  • No changes to how small business loan data is reported, potentially affecting the availability and transparency of credit information.
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 2025-12-24.

CATEGORIES

Economy