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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".

H.J.Res. 64 Rep. Mike Flood (R-NE-1) In committee
Bill text PDF
  1. Introduced Feb 27
  2. Committee Feb 27
  3. Passed House Next
  4. Passed Senate Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Feb 27, 2025Next: House vote
608d ago Feb 27, 2025: Referred to the House Committee on Financial Services.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
1company, 2 filings
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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.

Library of Congress summary, Feb 27, 2025

Summary versions
  • Introduced in HouseFeb 27, 2025

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 28, 2026.