What This Bill Does · Plain English
Summary · Congress.gov
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.
Vote Breakdown · How Congress voted on SJRES.28
Senate
290-264
PASSED
Republicans
290 yea
6 nay
Democrats
0 yea
247 nay
Independents
0 yea
11 nay
House
219-211
PASSED
Democrats
0 yea
209 nay
Republicans
216 yea
0 nay
Independents
3 yea
2 nay
⚠️ 8 members broke with party on this vote
Action Timeline
2025-05-09
Became Public Law No: 119-11.
2025-05-09
Signed by President.
2025-05-09
Signed by President.
2025-05-09
Became Public Law No: 119-11.
2025-05-05
Presented to President.
2025-05-05
Presented to President.
2025-04-09
Rule provides for consideration of S.J. Res. 18, S.J. Res. 28, H.R. 1526 and H.R. 22. The resolution provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18, and S.J. Res. 28 under a closed rule. The resolution provides for one hour
2025-04-09
POSTPONED PROCEEDINGS - At the conclusion of debate on S.J. Res. 28, the Chair put the question on passage of the joint resolution and by voice vote, announced that the ayes had prevailed. Mr. Hill (AR) demanded the yeas and nays and the Ch
2025-04-09
DEBATE - The House proceeded with one hour of debate on S.J. Res. 28.
2025-04-09
Motion to reconsider laid on the table Agreed to without objection.
Frequently Asked Questions
Did SJRES.28 pass?
Yes. SJRES.28 (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".) was enacted into law. Bill stage: ENACTED.
What does SJRES.28 do?
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.
Who sponsored SJRES.28?
SJRES.28 was sponsored by Pete Ricketts (R-Nebraska).
Who voted against SJRES.28?
8 members broke with their party on this vote. Notably, Josh Hawley (R) voted nay.
Full Bill Text
SJ 28 ENR: 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”. U.S. Senate text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. One Hundred Nineteenth Congress of the United States of America 1st Session Begun and held at the City of Washington on Friday, the third day of January, two thousand and twenty five S. J. RES. 28 IN THE SENATE OF THE UNITED STATES 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 . That Congress disapproves the final rule submitted by the Bureau of Consumer Financial Protection relating to Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications (89 Fed. Reg. 99582 (December 10, 2024)), and such rule shall have no force or effect. Speaker of the House of Representatives Vice President of the United States and President of the Senate
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