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House joint resolution · H.J.Res. 64 (119th Congress)

Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Defining Larger Participants of a Market for General-Use Digital…

U.S. House of Representatives

Latest action Feb 27, 2025

Sponsor: Mike Flood (U.S. Representative, NE-1, Republican)

Official titleShow

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".

The heading above is this same sentence with its legal opening removed. No words were added, changed or reordered.

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From Congress.gov and official rosters. This record was last updated Jul 30, 2026. About our data

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.

Summary from the Congressional Research Service. How we handle summaries

Where it stands

Assigned to a committee for review.

  1. Introduced
  2. In committee
  3. Up for a vote
  4. Passed one chamber
  5. Passed
  6. Enacted

Committee

House Committee on Financial Services · U.S. House of Representatives

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Cosponsors

7

Cosponsors listed on Congress.gov, shown A to Z.

  • Republican7

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Related bills

As identified by Congress.gov.

Full history

  1. Feb 27, 2025

    Introduced

    Introduced in House

    U.S. House of Representatives

  2. Feb 27, 2025

    Introduced

    Introduced in U.S. House

    U.S. House

  3. Feb 27, 2025

    Referred to committee

    Referred to the House Committee on Financial Services.

    U.S. House of Representatives

Read the record