The US House of Representatives voted to overturn a Consumer Financial Protection Bureau rule requiring small business lenders to gather borrowers’ demographic data, teeing up a likely veto from President Joe Biden.
The Republican-led House cleared the disapproval resolution (S. J. Res. 32) in a 221-202 vote Friday, mostly along party lines. The measure would use the Congressional Review Act to repeal the CFPB’s small business data collection rule, which has also been subject to litigation from the banking industry.
Six Democrats voted with Republicans to back the repeal: Reps. Ed Case (Hawaii), Henry Cuellar (Texas), Jared Golden ...
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