S.J.Res.32 — 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)".
House Roll Call
S.J.Res.32
| Bill | S.J.Res.32 — 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)". |
|---|---|
| Vote question | On Passage |
| Vote type | Yea-and-Nay |
| Result | Passed |
| Totals | Yea 221 / Nay 202 / Present 1 / Not Voting 10 |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| R | 215 | 0 | 1 | 5 |
| D | 6 | 202 | 0 | 5 |
| I | 0 | 0 | 0 | 0 |
Research Brief
On Passage
Bill Analysis
SJRES 32 is a joint resolution introduced in the 118th Congress aimed at disapproving a rule submitted by the Bureau of Consumer Financial Protection (CFPB) concerning small business lending under the Equal Credit Opportunity Act (ECOA), specifically Regulation B. This rule sought to expand the protections afforded to small businesses by prohibiting discriminatory lending practices based on race, gender, or other protected characteristics.
The resolution was introduced under Chapter 8 of Title 5 of the United States Code, which allows Congress to disapprove rules issued by federal agencies. The CFPB’s rule was intended to enhance transparency in small business lending, requiring lenders to provide data on the demographics of applicants and the outcomes of their applications. This data collection aims to identify and mitigate discriminatory lending practices, thereby promoting fair access to credit for small businesses, particularly those owned by minorities and women.
The resolution’s failure in the Senate, with a vote tally of 54 in favor and 45 against, indicates a significant division among lawmakers regarding the regulation’s necessity and impact. The vetoed resolution would have effectively nullified the CFPB’s rule, preventing its implementation and maintaining the status quo in small business lending practices.
Key beneficiaries of the CFPB’s rule include small business owners who face barriers in accessing credit, as well as advocacy groups focused on economic equity. Conversely, the resolution’s disapproval could benefit lenders concerned about regulatory burdens and compliance costs associated with the new data collection requirements.
The timeline for the resolution was limited to the legislative session of the 118th Congress, with no further actions taken following its failure to pass in the Senate. As a result, the CFPB’s rule remains in effect, continuing to shape the landscape of small business lending in the United States.
Yea (221)
K
Kelly Armstrong
D
Dan Bishop
K
Ken Buck
L
Larry Bucshon
M
Michael Burgess
K
Ken Calvert
J
Jerry Carl
L
Lori Chavez-DeRemer
A
Anthony D'Esposito
J
John Duarte
J
Jeff Duncan
A
A. Ferguson
S
Scott Franklin
M
Matt Gaetz
M
Mike Gallagher
M
Mike Garcia
B
Bob Good
K
Kay Granger
G
Garret Graves
M
Mark Green
D
Doug Lamborn
J
Jake LaTurner
D
Debbie Lesko
B
Blaine Luetkemeyer
K
Kathy Manning
L
Lisa McClain
P
Patrick McHenry
M
Marcus Molinaro
A
Alexander Mooney
M
Mary Peltola
G
Greg Pence
B
Bill Posey
M
Matthew Rosendale
J
John Rutherford
D
David Schweikert
P
Pete Sessions
M
Michelle Steel
M
Michael Waltz
B
Brad Wenstrup
B
Brandon Williams
Nay (202)
C
Colin Allred
E
Earl Blumenauer
J
Jamaal Bowman
C
Cori Bush
Y
Yadira Caraveo
T
Tony Cárdenas
M
Matt Cartwright
G
Gerald Connolly
J
Jason Crow
L
Lloyd Doggett
A
Anna Eshoo
R
Ruben Gallego
J
John Garamendi
R
Raúl Grijalva
B
Brian Higgins
J
Jeff Jackson
D
Daniel Kildee
D
Derek Kilmer
A
Ann Kuster
B
Barbara Lee
L
Lucy McBath
G
Grace Napolitano
W
Wiley Nickel
B
Bill Pascrell
D
Donald Payne
K
Katie Porter
C
C. Ruppersberger
J
John Sarbanes
A
Abigail Spanberger
E
Eric Swalwell
R
Rashida Tlaib
N
Nydia Velázquez
D
Debbie Wasserman Schultz
J
Jennifer Wexton
S
Susan Wild
Present (1)
G
George Santos
Not Voting (10)
S
Sheila Jackson Lee
B
Bill Johnson
K
Kevin McCarthy
D
Dean Phillips
C
Cathy Rodgers
D
David Trone