Senate Fails to Override Presidential Veto, Dodd-Frank Provision Promoting Transparency in Small Business Lending Will Become Law
WASHINGTON, D.C. – The U.S. Senate today failed to override the presidential veto of S.J.Res. 32, a Republican-led Congressional Review Act (CRA) resolution to repeal the Consumer Financial Protection Bureau’s (CFPB) implementation of Section 1071 of the Dodd-Frank Act. Sec. 1071 is a sunshine provision requiring large lenders to collect and report demographic data on small business loans. While Section...