Providing for congressional disapproval under chapter 8 of title...
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)".
This bill, HJR161, seeks to allow Congress to disapprove a rule that the Bureau of Consumer Financial Protection Bureau (BCFP) wants to withdraw. This rule, known as "Bulletin 2012-04: Lending discrimination," was issued in 2012 and aimed to prevent discriminatory lending practices.
If passed, this bill would affect the BCFP and potentially any lenders who follow the rules set by the BCFP. By allowing Congress to disapprove the withdrawal of the rule, it means that the rule could still be in effect even if the BCFP decides to remove it.
As of now, the bill has just been introduced and referred to the House Committee on Financial Services. This is the first step in the legislative process, and further actions will depend on the committee's review and recommendations.
