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S.J.Res. 28 · 119th Congress

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".

Enacted

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Bill details

Introduced: 2/27/2025
Current status: Enacted
Bill ID: 119sjres28
Latest official action: Became Public Law No: 119-11.

Bill overview

A neutral overview based on official congressional sources.

Public Law

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.

Source: BILLSUM · Summary date: 5/9/2025

Related votes

Roll calls that reference this bill in official data.

2 roll calls
Senate · 119 / 1 · Roll 106
On the Joint Resolution
Date: 3/5/2025Result: Joint Resolution Passed
Open vote →
Senate · 119 / 1 · Roll 103
On the Motion to Proceed
Date: 3/4/2025Result: Motion to Proceed Agreed to
Open vote →

Primary sources

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Congress.gov bill →OurCongress methodology →

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Last updated: 5/9/2025Source: BILLSUMBill: 119sjres28Learn more →