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 the withdrawal of the rule relating to "Bulletin 2012-04: Lending discrimination (April 18, 2012)"

Progress

Timeline

• Mar 26Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summary

This joint resolution would reverse a recent action by the Consumer Financial Protection Bureau (CFPB) regarding lending discrimination guidance. **What it does:** Uses Congress's authority to disapprove and overturn a CFPB rule that withdrew previous guidance on lending discrimination from 2012. **Who it affects:** - Lenders (banks, credit unions, mortgage companies, etc.) - Consumers applying for loans - Fair lending enforcement agencies **What would change:** If passed, this would effectively restore the 2012 guidance that helped lenders understand how to comply with fair lending laws and avoid discriminatory practices. The guidance covered how to identify and prevent lending discrimination based on factors like race, gender, age, or other protected characteristics. Currently, the resolution is in committee, meaning it hasn't been voted on by the full House or Senate. The practical impact would be maintaining clearer standards for fair lending practices that were previously in place.

How This Affects You