Senate Votes to Overturn CFPB Small-Business Lending Rule

Roll Call
Wednesday, October 18, 2023

"The Senate voted 53-44 Wednesday to overturn a Consumer Financial Protection Bureau rule requiring personal information on small-business borrowers, including race and sex, from the financial institutions that lend to them.

Senate Minority Leader Mitch McConnell, R-KY., touted the resolution introduced by Sen. John Kennedy, R-La., under the Congressional Review Act as striking a blow to President Joe Biden's regulators. Resolutions under the CRA require only a simple majority in the Senate."