[Senate Document 118-9]
[From the U.S. Government Publishing Office]




118th Congress, 1st Session - - - - - - - - - - Senate Document 118-9

 
                           VETO--S.J. RES. 32

                                (PM 34)

                               __________

                                MESSAGE

                                  from

                     THE PRESIDENT OF THE UNITED STATES

                               returning

    WITHOUT MY APPROVAL S.J. RES. 32, A JOINT RESOLUTION THAT WOULD 
  DISAPPROVE OF THE CONSUMER FINANCIAL PROTECTION BUREAU'S FINAL RULE 
TITLED ``SMALL BUSINESS LENDING UNDER THE EQUAL CREDIT OPPORTUNITY ACT 
                            (REGULATION B)''






[GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]







               December 19, 2023.--Ordered to be printed  
               
                             _________
                              
                 U.S. GOVERNMENT PUBLISHING OFFICE
                 
54-368                   WASHINGTON : 2023 
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
To the Senate of the United States:
    I am returning herewith without my approval S.J. Res. 32, a 
resolution that would disapprove of the Consumer Financial 
Protection Bureau's (CFPB) final rule titled ``Small Business 
Lending Under the Equal Credit Opportunity Act (Regulation 
B).''
    The CFPB's final rule would provide small business owners, 
lenders, and the public with critical information about the 
$1.7 trillion small business financing market. It would bring 
much needed transparency to small business lending and improve 
the ability of lenders and community organizations to meet the 
most critical needs of America's small businesses. This rule 
implements a long-overdue piece of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act. It is also central to the 
effective implementation of the Community Reinvestment Act, 
which helps ensure that the needs of all borrowers--including 
low- and moderate-income borrowers--are met. But this 
Republican-led resolution would hinder the Government's ability 
to conduct oversight of abusive and predatory lenders, make it 
harder for 33 million small businesses across the country to 
assess lending opportunities and access capital, and make it 
more difficult for lenders and community groups to address the 
most acute gaps in capital access for minority- and women-owned 
businesses.
    If enacted, this resolution would harm all those that stand 
to benefit from expanded transparency and accountability. By 
hampering efforts to promote transparency and accountability in 
small business lending, Republicans are siding with big banks 
and corporations over the needs of small business owners. Small 
businesses are the engines of our economy, and my 
Administration will not support policies that hurt their 
ability to thrive and grow.
    Therefore, I am vetoing this resolution.
                                               Joseph R. Biden, Jr.
    The White House, December 19, 2023.

                                  [all]