Rep. Barry Moore opposes CFPB rule that violates privacy of small business owners

Washington, D.C. — Today, Rep. Barry Moore (AL-02) voted in favor of S.J. Res.32, a joint Congressional Review Act resolution of disapproval regarding a new Consumer Financial Protection Bureau (CFPB) rule. The new regulation requires banks to ask small business owners personal questions about their sexuality and gender as part of applying for a loan. Their personal information will then be added to the CFPB website.

“No small business owner should ever be forced to disclose information about their sexuality to apply for a loan," said Moore. "This backwards rule puts small business owners at risk of having their private information compromised and bankers at risk by forcing them to ask questions violating customers' privacy. Additional burdens on small businesses like these nonsensical reporting requirements are the last thing they need when they’re already struggling to keep their doors open due to Bidenomics."

Click here to learn more about this legislation.

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