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Congressional Disapproval of Rule Relating to Small Business Lending (Regulation B)

The U.S. Congress has passed a resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to small business lending under the Equal Credit Opportunity Act (Regulation B). According to the resolution, the rule shall have no force or effect.
Key points
Congress disapproves the CFPB rule regarding small business lending (Regulation B).
The rule relates to the Equal Credit Opportunity Act.
As a result of the resolution, the rule has no force or effect.
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VOTING RESULTS
2024-01-10
55%
For 54
Against 45
Abstain 0
Full voting results open_in_new
Failed
Citizen Poll
No votes cast
Additional Information
Print number: 118_SJRES_32
Sponsor: Sen. Kennedy, John [R-LA]
Process start date: 2023-06-13
Voting date: 2024-01-10
Meeting no: 1
Voting no: 5
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Summarized by: gemini-3-pro-preview
Source data: api.congress.gov
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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 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_SJRES_32.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-06-13.

What are the main provisions?

Key points include:

  • Congress disapproves the CFPB rule regarding small business lending (Regulation B).
  • The rule relates to the Equal Credit Opportunity Act.
  • As a result of the resolution, the rule has no force or effect.
What is the specific legal status?

The current status is Failed.

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. Kennedy, John [R-LA].

What is the latest detailed status?

The latest detailed status is: Failed of passage in Senate over veto by Yea-Nay Vote. 54 - 45. Record Vote Number: 5.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy