Rep. Williams Applauds Senate Passage of Resolution Disapproving of Final CFPB 1071 Rule

WASHINGTON, D.C. – Congressman Roger Williams (TX-25) released the following statement on Wednesday following the Senate passage of S.J. Res. 32, the Senate companion bill for H.J. Res. 66, a Congressional Review Act disapproving of the Consumer Financial Protection Bureau’s 1071 Small Business Lending Data Collection Rule by a vote count of 53-44:

“I applaud the Senate for passing this resolution condemning the CFPB’s continued attack on Main Street America,” said Congressman Williams. “Small business owners are already facing increased borrowing costs and crushing inflation as the Federal Reserve has raised interest rates to a 22-year high. The 1071 rule would only make it harder for existing business owners and entrepreneurs to access the capital they need. I thank my colleagues for their bipartisan work to put an end to this overbearing rulemaking and protect Main Street America. I look forward to this legislation being brought to the House floor for a vote soon.”

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Congressman Roger Williams is the Chairman of the House Small Business Committee and member of the House Financial Services Committee. He proudly represents the 25th Congressional District of Texas.