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".
Latest action (May 9, 2025) — No: 119-11.
What it does
Congressional Research Service, May 9, 2025This 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.
Face Value
as enrolledHow much of this bill its name accounts for.
- Every bill starts at100
- Nothing counted against it: one area of law, and short enough that length doesn't register.
Face Value measures reach, not honesty. A big bill can be accurately named, and a low score is not an accusation — it means the contents reach further than any short title could describe. Count it yourself ↗ How this is worked out
What Congress did
1 recordeddecisive vote
House · Apr 9, 2025
Whether the bill passes the House. This is the vote most people mean.
Discussion
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