Signed into law
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".
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.
- Measure
- S.J.Res. 28 · 119th Congress
- Latest action
- May 9, 2025
- Policy changes
- 1
- Source
- CRS summary (Public Law) · Congress.gov
Became Public Law No: 119-11.
Read it yourself · The summaries below are the Congressional Research Service’s. Under each one you can open the bill’s own wording, or read the full text (enrolled (sent to the President)).
What it would cost
Congressional Budget Office estimate
The Congressional Budget Office, Congress’s nonpartisan scorekeeper, hasn’t published a cost estimate for this bill yet.
Dollar amounts in the bill itself
The bill’s text doesn’t provide or authorize any money directly.
Read from the bill’s text by matching dollar amounts and the words around them; check the linked section before relying on a figure.
Who wrote it
Sponsor
Sen. Pete Ricketts (R-NE)Joined by 5 cosponsors, 1 of them from the day it was introduced. Introduced February 27, 2025.
All 5 cosponsors
- Sen. Ted Budd (R-NC) · original
- Sen. Jim Banks (R-IN)
- Sen. Bill Hagerty (R-TN)
- Sen. Deb Fischer (R-NE)
- Sen. Tim Scott (R-SC)
How Congress voted
Senate · March 5, 2025
Passed Senate without amendment by Yea-Nay Vote. 51 - 47. Record Vote Number: 106.
51 yea · 47 nay · 2 other · Republicans 51–1 · Democrats 0–44 · Independents 0–2 · Official record
House · April 9, 2025
On passage Passed by the Yeas and Nays: 219 - 211 (Roll no. 95).
219 yea · 211 nay · 3 other · Republicans 219–0 · Democrats 0–211 · Official record
Your delegation
Choose your state to see how your senators and representatives wrote, voted on, and spoke about this bill.
In their own words
What members have said about this bill, quoted exactly and linked to the source.
We haven’t found public statements from members about this bill yet.
What it changes — and your vote
One person, one vote · Anyone may read. To vote, verify your identity once with a government-issued ID — we keep no copy of it. Verify to vote
Provision 1
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.
›Read the bill’s wording · Section(closest match)
The summary doesn’t name a section, so these are the sections whose wording matches it most closely.
Loading the text…
No verified votes yet