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House Committee Passes Resolution to Overturn 1071 Rule

House Committee Passes Resolution to Overturn 1071 Rule

Posted: Aug 02 2023
In related news, the House Financial Services Committee has voted to approve a resolution of disapproval to overturn the CFPB's final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting of credit application data for small businesses, including women-owned and minority-owned small businesses. The resolution would need to be adopted by both houses of Congress and signed by the president to overturn the rule.  President Biden does not support the resolution.
 
To read the resolution, visit: https://www.congress.gov/118/bills/hjres66/BILLS-118hjres66ih.pdf
 

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