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)".
Latest action. Failed of passage in Senate over veto by Yea-Nay Vote. 54 - 45. Record Vote Number: 5.
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.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Passed House" stage on December 1, 2023. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
This joint resolution failed the vote the record describes below. A measure that fails is not revived; the same text has to be introduced again as a new measure.
The record's latest action, on January 10, 2024: Failed of passage in Senate over veto by Yea-Nay Vote. 54 - 45. Record Vote Number: 5.
What is a joint resolution, exactly?
A joint resolution travels the same road as a bill: both chambers pass it and the President signs it, and it then has the same force as any other law. The label is largely a matter of custom, often used for narrow or time-limited measures.
One exception matters. A joint resolution proposing an amendment to the Constitution is not sent to the President at all. It goes to the states, and three quarters of them have to ratify it.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
John Kennedy (R-LA) introduced it on June 13, 2023, and 45 members have since signed on as cosponsors.
They are 45 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenatePassed
- HousePassed
- PresidentVetoed, and the override attempt fell short. Latest action January 10, 2024