[Congressional Record Volume 172, Number 81 (Wednesday, May 13, 2026)]
[Senate]
[Page S2270]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




  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 
 ``EQUAL CREDIT OPPORTUNITY (REGULATION B); REVOCATIONS OR UNFAVORABLE 
   CHANGES TO THE TERMS OF EXISTING CREDIT ARRANGEMENTS''--Motion to 
                                Proceed

  Mr. BOOKER. Mr. President, I move to proceed to Calendar No. 398, 
S.J. Res. 154.
  The PRESIDING OFFICER. The clerk will report.
  The senior assistant legislative clerk read as follows:

       Motion to proceed to Calendar No. 398, S.J. Res. 154, 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 ``Equal 
     Credit Opportunity (Regulation B); Revocations or Unfavorable 
     Changes to the Terms of Existing Credit Arrangements''.

  Mr. BOOKER. Mr. President, in 1974, Congress passed a landmark piece 
of legislation, the Equal Credit Opportunity Act. The ECOA was put in 
place to protect people from what was widespread discrimination in 
getting and using credit. Congress knew how vital credit is to 
Americans, and they worked to expand that not just to women but also to 
minorities.
  In the five decades since, the ECOA has always protected people not 
only when they get a loan but from unfair treatment once they have it--
whether they can renew the loan, whether the terms change during the 
loan, and more.
  Now, look, as recently as 2022, a study found that women in America 
paid an extra $40.3 million annually in higher premiums for auto loans 
they received at car dealers compared to men. This is wrong. We have a 
nation on the principle that all are created equal and deserve 
equality.
  And so, despite these problems, the Consumer Financial Protection 
Bureau, our Nation's consumer watchdog, saw that banks and lenders were 
closing more accounts and doing more unequal things, and they acted--
again, because credit discrimination is not just about getting the 
credit you need; it is about making sure you have fair treatment.
  These decisions to deny credit, to revoke credit, to charge unfair 
prices are wrong, and we all know that. We know that when people have 
challenges, we should be there to make sure there is equality.
  In 2022, the CFPB took action to make sure the laws and the practices 
that are at the heart of fairness in our country were put into place. 
Unfortunately, the Trump administration scrapped the ruling that helped 
to make sure we get to equality.
  The PRESIDING OFFICER. The Senator's time has expired.
  Mr. BOOKER. I ask my colleagues to join me in supporting the 
restoration of fairness and equality in our country with this.
  I yield the floor.


                       Vote on Motion to Proceed

  The PRESIDING OFFICER. The question is on agreeing to the motion to 
proceed.
  In the opinion of the Chair, the noes have it.
  The motion was rejected.
  The PRESIDING OFFICER. The Senator from Nevada.

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