119th Congress
H.J.Res. 64
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".
- Introduced
- In committee
- Passed House
- Passed Senate
- To President
- Became law
- Sponsor
- Mike Flood(R-NE)
- Introduced
- Feb 27, 2025
- Policy area
- Finance and Financial Sector
- Committees
- House Committee on Financial Services
- Official text
- Introduced in House · Congress.gov page
Cosponsors (7)
Original cosponsors (4)
- Bryan Steil (R-WI)
- Daniel Meuser (R-PA)
- Troy Downing (R-MT)
- Young Kim (R-CA)
Added later (3)
- Barry Loudermilk (R-GA) · Mar 5, 2025
- Tim Moore (R-NC) · Mar 5, 2025
- Andy Barr (R-KY) · Mar 26, 2025
Summary
Summary by the Congressional Research Service· describes the “Introduced in House” version
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.
Roll-call votes
No recorded votes on this bill.
Actions
- Feb 27, 2025 · House
Referred to the House Committee on Financial Services. - Feb 27, 2025
Introduced in House