S.J.Res. 32 explained · 118th Congress · Not enacted (118th Congress ended)
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)".
Cosponsors: 45 (0 D, 45 R) · per Congress.gov, 2026-10-11
Introduced: 2023-06-13
Latest action (2024-01-10): Failed of passage in Senate over veto by Yea-Nay Vote. 54 - 45. Record Vote Number: 5.
What S.J.Res. 32 does, in plain terms
This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled Small Business Lending under the Equal Credit Opportunity Act (Regulation B) and published on May 31, 2023. The rule requires financial institutions to collect and report to the bureau credit application data for small businesses. On July 31, 2023, the U.S. District Court for the Southern District of Texas ordered the bureau not to implement or enforce the rule until a related pending case is resolved.
Official summary by the Congressional Research Service, via Congress.gov.
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