With the Senate scheduled to vote today on a resolution to block the Consumer Financial Protection Bureau’s Section 1071 rule, ICBA is urging community bankers to urge their senators to support the measure.
Senate slated to vote today on 1071 reversal
October 18, 2023 / By ICBA
With the Senate scheduled to vote today on a resolution to block the Consumer Financial Protection Bureau’s Section 1071 rule, ICBA is urging community bankers to urge their senators to support the measure.
With the Senate scheduled to vote today on a resolution to block the Consumer Financial Protection Bureau’s Section 1071 rule, ICBA is urging community bankers to urge their senators to support the measure.
Vote Scheduled: The Senate is slated to vote at noon (Eastern time) today on Sen. John Kennedy’s (R-La.) S.J.Res.32, which would provide for congressional disapproval of the small-business data collection and reporting rule and dictate that it has no force or effect. The Senate activity follows July’s House Financial Services Committee passage of the House version of the resolution.
Grassroots Alert: Community bankers can use ICBA’s Be Heard grassroots action center to urge their members of Congress to advance the resolutions to require the CFPB to craft a new rule that preserves the flow of credit to small businesses.
Customer-Facing Tools: ICBA also offers customizable resources that community bankers can use to educate and engage their customers on the ICBA-opposed 1071 rule, including social media content, a sample letter to Congress, and a sample op-ed detailing its negative impact on small businesses.
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