Congress Repeals Controversial Small Business Lending Rule, Setting Up Biden Veto

Republicans have derided the rule as a ‘woke’ attempt of the Biden administration to politicize lending.

The Consumer Financial Protection Bureau building in Washington on Oct. 31, 2023. Madalina Vasiliu/The Epoch Times

A joint resolution signaling Congress’s disapproval of a new Consumer Financial Protection Bureau (CFPB) lending rule cleared its last congressional hurdle on Nov. 30 with its passage in the House in a 220–201 vote.

Having already passed the Senate, the measure will now head to President Joe Biden’s desk, where it is likely to be vetoed.