Public Law 115-172: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by Bureau of Consumer Financial Protection relating to “Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act”.

By | January 7, 2019
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Seal of the Consumer Financial Protection Bureau.

Seal of the Consumer Financial Protection Bureau.

Nullifies a CFPB rule which required indirect auto lenders to comply with fair lending requirements.

Official Summary

This joint resolution nullifies the rule submitted by the Consumer Financial Protection Bureau and printed in the Congressional Record on December 6, 2017, relating to indirect auto lending and compliance with the Equal Credit Opportunity Act. The rule provides guidance for compliance with fair lending requirements for third-party auto lenders.

Passed House
2018-05-08
Passed Senate
2018-04-18
Signed by President
2018-05-21
Became Public Law
2018-05-21

Amendments

None.

Sponsors

Original sponsor: Sen. Moran, Jerry [R-KS]

Cosponsors: Sen. Toomey, Pat [R-PA], Sen. Enzi, Michael B. [R-WY], Sen. Rounds, Mike [R-SD], Sen. Lankford, James [R-OK], Sen. Kennedy, John [R-LA], Sen. Hatch, Orrin G. [R-UT], Sen. Wicker, Roger F. [R-MS], Sen. Hoeven, John [R-ND], Sen. Blunt, Roy [R-MO], Sen. Johnson, Ron [R-WI], Sen. Inhofe, James M. [R-OK], Sen. Heller, Dean [R-NV], Sen. Isakson, Johnny [R-GA], Sen. Scott, Tim [R-SC], Sen. Boozman, John [R-AR], Sen. Crapo, Mike [R-ID], Sen. Capito, Shelley Moore [R-WV], Sen. Cotton, Tom [R-AR], Sen. Roberts, Pat [R-KS], Sen. Risch, James E. [R-ID], Sen. Daines, Steve [R-MT], Sen. Ernst, Joni [R-IA], Sen. Cruz, Ted [R-TX], Sen. Thune, John [R-SD]
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Votes

Passed House: http://clerk.house.gov/evs/2018/roll171.xml

Passed Senate: http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?&congress=115&session=2&vote=00076

Read the Bill

Related bill:  HRES 872 (Did not pass Senate)

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