S.J.Res. 28 became law 71 days after introduction, with cosponsors, all Republicans
A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications".
Written by the Congressional Research Service [2]. 86 words.
This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau (CFPB) titled Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications and published on December 10, 2024. The rule defines larger participants in the general-use digital consumer payment application market (i.e., payment apps) that are subject to CFPB supervisory authority. The rule defines larger participants in this market as nonbanks (1) with an annual volume of at least 50 million transactions, and (2) that are not small business concerns.
- Committees
- Senate Banking, Housing, and Urban Affairs Committee
- Policy area
- Finance and Financial Sector: 53 of 3,256 bills became law, 113th–118th (1.6%)
- Sponsor
- 1 of 78 bills enacted since 2013
- Text versions
- 5, from enrolled bill to public law · 231 words
- Subjects
- Administrative law and regulatory proceduresCongressional oversightConsumer Financial Protection BureauConsumer affairsInternet, web applications, social media
- Latest action
- May 9, 2025: Became Public Law No: 119-11.
- Records
- Congress.gov · Bill text
Each bill appears once, under its strongest link. 3 in all.
Identical or companion · 1
- 119th H.J.Res. 64 Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Defining Larger Participants of a Market for Gen R · Introduced
Procedural (rules, motions) · 2
- 119th H.Res. 282 Providing for consideration of the joint resolution (S.J. Res. 18) disapproving the rule submitted by the Bureau of Consumer Financial Prote R · Failed vote
- 119th H.Res. 294 Providing for consideration of the joint resolution (S.J. Res. 18) disapproving the rule submitted by the Bureau of Consumer Financial Prote R · Agreed to