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Congress votes to repeal Sec. 1071 rule; Biden vows veto
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Banking, Consumer Protection
Tuesday, December 5, 2023
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The fate of the Consumer Financial Protection Bureau’s final rule mandating certain data collection and reporting requirements outlined in Sec. 1071 of the Dodd-Frank Act now rests with the White House. Following Congress’s vote approving a resolution to repeal the rule, President Joe Biden reiterated his intention to veto the resolution.
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