The record

LegislationLegislation· Jan 2024

Sponsored by John Kennedy (R)

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)".

Would have blocked a federal rule requiring lenders to report small business credit application data.

Tradeoff

Would have voided a Consumer Financial Protection Bureau (CFPB) rule that required lenders to report small business loan data. A federal court in Texas had already blocked the rule in July 2023.

What's in it

See official bill text

The Senate passed this 53-44 on October 18, 2023. The House passed it 221-202 on December 1, 2023. On January 10, 2024, the Senate voted 54-45 to override the President's veto, which fell short of the two-thirds needed, so the veto stood.

  1. Senate

    Introduced

    (Jun 13, 2023)

  2. Senate

    Committee on Banking, Housing, and Urban Affairs(Jun 13, 2023)

  3. Senate

    Taken away from the Committee on Banking, Housing, and Urban Affairs

    Discharged by petition(Oct 17, 2023)

    A petition forced the committee to release the bill without acting on it.

  4. Senate

    On the Joint Resolution

    Joint Resolution Passed(Roll #260 · Oct 18, 2023)

    53 yeanay 44
  5. House

    Received from the Senate

    Received(Oct 25, 2023)

  6. House

    Passage of the bill

    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)”

    Passed(Roll #690 · Dec 1, 2023)

    221 yeanay 202
  7. House

    Sent to the President

    (Dec 14, 2023)

  8. Senate

    On Overriding the Veto

    Shall the Joint Resolution (S.J. Res. 32) Pass, the Objections of the President of the United States to the Contrary Notwithstanding?

    Veto Sustained(Roll #5 · Jan 10, 2024)

    54 yeanay 45
  9. White House

    Vetoed(Jan 10, 2024)

    Joe Biden (D)

Final passage· 118th Congress · 2023–2025