Senate fails to override veto on 1071 resolution

The Senate today failed to override President Biden’s veto of a joint resolution to overturn the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act. S.J. Res. 32 by Sen. John Kennedy (R-La.) cleared both houses of Congress last year by bipartisan votes, but Biden vetoed the resolution in December. Congress can override a veto if two-thirds of lawmakers in the House and Senate vote to overturn the president’s action, but the motion failed on a 54-45 vote.