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![handle is hein.congrecreports/crptxaftv0001 and id is 1 raw text is: AUTHENTICATED
..GOVERNMENT
INFORMATION .
118TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 118-279
DISAPPROVING THE RULE SUBMITTED BY THE CONSUMER FINANCIAL
PROTECTION BUREAU RELATING TO SMALL BUSINESS LENDING
UNDER THE EQUAL CREDIT OPPORTUNITY ACT (REGULATION B)
NOVEMBER 28, 2023.-Committed to the Committee of the Whole House on the
State of the Union and ordered to be printed
Mr. MCHENRY, from the Committee on Financial Services,
submitted the following
R E P O R T
together with
MINORITY VIEWS
[To accompany H.J. Res. 66]
The Committee on Financial Services, to whom was referred the
joint resolution (H.J. Res. 66) disapproving the rule submitted by
the Consumer Financial Protection Bureau relating to Small Busi-
ness Lending Under the Equal Credit Opportunity Act (Regulation
B), having considered the same, reports favorably thereon without
amendment and recommends that the joint resolution do pass.
PURPOSE AND SUMMARY
Introduced on July 14, 2023, by Representative Roger Williams,
H.J. Res 66, a joint resolution disapproving the rule submitted by
the Consumer Financial Protection Bureau relating to Small Busi-
ness Lending Under the Equal Credit Opportunity Act (Regulation
B), would rescind the CFPB's final rule, implementing Section
1071 of the Dodd-Frank Act, to mandate the collection and report-
ing of demographic data on small business loan applicants.
BACKGROUND AND NEED FOR LEGISLATION
On March 30, 2023, the CFPB issued a final rule to implement
Section 1071 of the Dodd-Frank Act, Small Business Data Collec-
tion. 1 The final rule will expand data collection requirements for
financial institutions in the small business lending market. Under
1CFPB, Final Rule: Small Business Lending under the Equal Credit Opportunity Act (Regu-
lation B), (Mar. 30, 2023). https://www.consumerfinance.gov/rules-policy/final-rules/small-busi-
ness-lending-under-the-equal-credit-opportunity-act-regulation-b/.
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