S.J.Res. 15: CRA to Disapprove of the OCC’s 2020 True Lender Rule

Did the Vote Pass? Yes
Voted Yea 52
Voted Nay 47
Didn't Vote 1
Voted Present 0

Economy and Free Markets

The OCC’s 2020 True Lender Rule sought to provide regulatory certainty to banks and third-party processors on who is the “true lender” when issuing short-term loans and to support the availability of responsible credit for people who need it most. The Federal Reserve estimates that 76 million Americans only make enough to cover monthly expenses and cannot save for contingencies.

Short-term loans are a lifeline to millions of families across our country. By repealing the True Lender rule, Congress would be restricting access to quality credit and incentivizing families to turn to more expensive or harmful options such as bank overdrafts, late fees, or borrowing against their car or home.

It is challenging for individuals who don’t have great credit to get a loan from a national bank. Nearly 30% of hardworking Americans are unbanked or underbanked, and consumers with credit scores under 680 are rejected for loans from banks at four times the rate as those with scores above 680.

These loans have been a much-needed resource to underserved communities, and by repealing this rule, Congress would only be hurting the same communities they claim to protect. I urge you to support a free relationship between borrowers and lenders and to oppose the repeal of the True Lender Rule.

Legislator's Votes

Official's Name	Party	District	Voted
Tammy Baldwin	Democrat	WI	Yea
Michael Bennet	Democrat	CO	Yea
Dick Blumenthal	Democrat	CT	Yea
Cory Booker	Democrat	NJ	Yea
Sherrod Brown	Democrat	OH	Yea
Maria Cantwell	Democrat	WA	Yea
Ben Cardin	Democrat	MD	Yea
Tom Carper	Democrat	DE	Yea
Bob Casey	Democrat	PA	Yea
Susan Collins	Republican	ME	Yea
Chris Coons	Democrat	DE	Yea
Catherine Cortez Masto	Democrat	NV	Yea
Tammy Duckworth	Democrat	IL	Yea
Dick Durbin	Democrat	IL	Yea
Dianne Feinstein	Democrat	CA	Yea
Kirsten Gillibrand	Democrat	NY	Yea
Maggie Hassan	Democrat	NH	Yea
John Hickenlooper	Democrat	CO	Yea
Mazie Hirono	Democrat	HI	Yea
Tim Kaine	Democrat	VA	Yea
Mark Kelly	Democrat	AZ	Yea
Angus King	Independent	ME	Yea
Amy Klobuchar	Democrat	MN	Yea
Patrick Leahy	Democrat		Yea
Ben Luján	Democrat	NM	Yea
Cynthia Lummis	Republican	WY	Yea
Joe Manchin	Democrat	WV	Yea
Ed Markey	Democrat	MA	Yea
Bob Menendez	Democrat	NJ	Yea
Jeff Merkley	Democrat	OR	Yea
Chris Murphy	Democrat	CT	Yea
Patty Murray	Democrat	WA	Yea
Jon Ossoff	Democrat	GA	Yea
Alex Padilla	Democrat	CA	Yea
Gary Peters	Democrat	MI	Yea
Jack Reed	Democrat	RI	Yea
Jacky Rosen	Democrat	NV	Yea
Marco Rubio	Republican	FL	Yea
Bernie Sanders	Independent	VT	Yea
Brian Schatz	Democrat	HI	Yea
Chuck Schumer	Democrat	NY	Yea
Jeanne Shaheen	Democrat	NH	Yea
Kyrsten Sinema	Independent	AZ	Yea
Tina Smith	Democrat	MN	Yea
Debbie Stabenow	Democrat	MI	Yea
Jon Tester	Democrat	MT	Yea
Chris Van Hollen	Democrat	MD	Yea
Mark Warner	Democrat	VA	Yea
Raphael Warnock	Democrat	GA	Yea
Elizabeth Warren	Democrat	MA	Yea
Sheldon Whitehouse	Democrat	RI	Yea
Ron Wyden	Democrat	OR	Yea
John Barrasso	Republican	WY	Nay
Marsha Blackburn	Republican	TN	Nay
Roy Blunt	Republican	MO	Nay
John Boozman	Republican	AR	Nay
Mike Braun	Republican	IN	Nay
Richard Burr	Republican		Nay
Shelley Capito	Republican	WV	Nay
Bill Cassidy	Republican	LA	Nay
John Cornyn	Republican	TX	Nay
Tom Cotton	Republican	AR	Nay
Kevin Cramer	Republican	ND	Nay
Mike Crapo	Republican	ID	Nay
Ted Cruz	Republican	TX	Nay
Steve Daines	Republican	MT	Nay
Joni Ernst	Republican	IA	Nay
Deb Fischer	Republican	NE	Nay
Lindsey Graham	Republican	SC	Nay
Chuck Grassley	Republican	IA	Nay
Bill Hagerty	Republican	TN	Nay
Josh Hawley	Republican	MO	Nay
John Hoeven	Republican	ND	Nay
Cindy Hyde-Smith	Republican	MS	Nay
Jim Inhofe	Republican	OK	Nay
Ron Johnson	Republican	WI	Nay
John Kennedy	Republican	LA	Nay
James Lankford	Republican	OK	Nay
Mike Lee	Republican	UT	Nay
Roger Marshall	Republican	KS	Nay
Mitch McConnell	Republican	KY	Nay
Jerry Moran	Republican	KS	Nay
Lisa Murkowski	Republican	AK	Nay
Rand Paul	Republican	KY	Nay
Rob Portman	Republican	OH	Nay
Jim Risch	Republican	ID	Nay
Mitt Romney	Republican	UT	Nay
Mike Rounds	Republican	SD	Nay
Ben Sasse	Republican	NE	Nay
Tim Scott	Republican	SC	Nay
Rick Scott	Republican	FL	Nay
Richard Shelby	Republican	AL	Nay
Dan Sullivan	Republican	AK	Nay
John Thune	Republican	SD	Nay
Thom Tillis	Republican	NC	Nay
Pat Toomey	Republican	PA	Nay
Tommy Tuberville	Republican	AL	Nay
Roger Wicker	Republican	MS	Nay
Todd Young	Republican	IN	Nay
Martin Heinrich	Democrat	NM	Missed