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HJRES64Referred to Committee

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".

Share:
Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-02-27
Introduced
7
Cosponsors
HJRES
ⓘ
Type

Sponsor

Mike Flood
Mike Flood
Republican · NE · Representative
Votes with party: 97.8% (646 recorded votes)

Full profile: /officials/F000474

Source: Congress.gov · FEC

Cosponsors (7)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

7 cosponsors on record at Congress.gov. The named list is syncing into Govwatch and will appear here shortly — view on Congress.gov in the meantime.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Financial Services.

2025-02-27

Source: Congress.gov

Committee Activity

Currently in

  • House Committee on Financial ServicesReferred To · 2025-02-27

Plain-English Summary

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.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Finance and Financial Sector
Full bill text is not yet cached locally.
Open text viewRead on Congress.gov

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