6.7.21
Lobbying for and against using the Congressional Review Act (CRA) to repeal the OCC’s October 2020 true lender rule has intensified ahead of a crucial vote in the House of Representatives expected as early as the week of June 21. Advocates have held briefings on Capitol Hill to educate House members, but opponents, including SFA, have been more vocal in the House following a 52-47 Senate vote to approve Senate Joint Resolution 15, which invoked the CRA to overturn the true lender rule. Given the slim Democratic majority in the House, advocacy has centered around a handful of moderate Democrats who could defeat the resolution by voting no if Republicans also oppose it unanimously. To read SFA’s letter of opposition to the House, click here.