HJRES 64
119th Congress
House
Finance and Financial Sector
Administrative law and regulatory procedures
Congressional oversight
Consumer Financial Protection Bureau
Consumer affairs
Internet, web applications, social media
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".
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 27, 2025
Referred to the House Committee on Financial Services.
Feb 27, 2025
Introduced in House
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.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1