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119th Congress · S.J.Res. 28 · Final

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.

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SubjectsAdministrative law and regulatory proceduresCongressional oversightConsumer Financial Protection BureauConsumer affairsInternet, web applications, social media
Sponsor
Pete Ricketts, R-NE
2 terms · @SenatorRicketts
139 Russell Senate Office Building Washington DC 20510 · 202-224-4224
Cosponsors (5)
  • Ted Budd, R-NCOriginal cosponsor
    Co-sponsored Feb 27, 2025 · 4 terms · @RepTedBudd
  • Jim Banks, R-IN
    Co-sponsored Mar 3, 2025 · 5 terms · @RepJimBanks
  • Bill F. Hagerty, R-TN
    Co-sponsored Mar 3, 2025 · 1 term · @SenatorHagerty
  • Deb Fischer, R-NE
    Co-sponsored Mar 4, 2025 · 3 terms · @SenatorFischer
  • Tim Scott, R-SC
    Co-sponsored Mar 4, 2025 · 5 terms · @SenatorTimScott
Committees (1)
  • Banking, Housing, and Urban Affairs Committee
    Senate Standing · Activity Mar 4, 2025
Actions (31)
  1. May 9, 2025 · via Library of Congress
    Became Public Law No: 119-11.
  2. May 9, 2025 · via Library of Congress
    Became Public Law No: 119-11.
  3. May 9, 2025 · via Library of Congress
    Signed by President.
  4. May 9, 2025 · via Library of Congress
    Signed by President.
  5. May 5, 2025 · via House floor actions
    Presented to President.
  6. May 5, 2025 · via Library of Congress
    Presented to President.
  7. Apr 9, 2025 · via House floor actions
    Motion to reconsider laid on the table Agreed to without objection.
  8. Apr 9, 2025 · via House floor actions
    On passage Passed by the Yeas and Nays: 219 - 211 (Roll no. 95). (text: CR H1514)
  9. Apr 9, 2025 · via Library of Congress
    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 219 - 211 (Roll no. 95). (text: CR H1514: 2)
  10. Apr 9, 2025 · via House floor actions
    Considered as unfinished business. (consideration: CR H1532-1533)
  11. Apr 9, 2025 · via House floor actions
    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 Chair postponed further proceedings until a time to be announced.
  12. Apr 9, 2025 · via House floor actions
    The previous question was ordered pursuant to the rule.
  13. Apr 9, 2025 · via House floor actions
    DEBATE - The House proceeded with one hour of debate on S.J. Res. 28.
  14. Apr 9, 2025 · via House floor actions
    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 of debate on each measure and one motion to recommit on H.R. 22 and H.R. 1526, and one motion to commit on S.J. Res. 18 and S.J. Res. 28.
  15. Apr 9, 2025 · via House floor actions
    Considered under the provisions of rule H. Res. 294. (consideration: CR H1514-1519)
  16. Apr 7, 2025 · via House floor actions
    Rules Committee Resolution H. Res. 294 Reported to House. 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 of debate on each measure and one motion to recommit on H.R. 22 and H.R. 1526, and one motion to commit on S.J. Res. 18 and S.J. Res. 28.
  17. Apr 1, 2025 · via House floor actions
    Rule H. Res. 282 failed passage of House.
  18. Apr 1, 2025 · via House floor actions
    Rules Committee Resolution H. Res. 282 Reported to House. Rule provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18 and S.J. Res. 28. 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 of debate on each measure and one motion to recommit on H.R. 22 and H.R. 1526, and one motion to commit on S.J. Res. 18 and S.J. Res. 28. The resolution also provides that H. Res. 23 and H. Res. 164 are laid on the table.
  19. Mar 10, 2025 · via House floor actions
    Held at the Desk
  20. Mar 10, 2025 · via House floor actions
    Received in the House
  21. Mar 6, 2025 · via Senate
    Message on Senate action sent to the House.
  22. Mar 5, 2025 · via Senate
    Passed Senate without amendment by Yea-Nay Vote. 51 - 47. Record Vote Number: 106.
  23. Mar 5, 2025 · via Library of Congress
    Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 51 - 47. Record Vote Number: 106.
  24. Mar 5, 2025 · via Senate
    Considered by Senate. (consideration: CR S1503, S1510-1511, S1520-1521)
  25. Mar 4, 2025 · via Senate
    Measure laid before Senate by motion. (consideration: CR S1489)
  26. Mar 4, 2025 · via Senate
    Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 50 - 47. Record Vote Number: 103. (CR S1489)
  27. Mar 4, 2025 · via Senate
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 20.
  28. Mar 4, 2025 · via Senate
    Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).
  29. Mar 4, 2025 · via Library of Congress
    Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).
  30. Feb 27, 2025 · via Senate
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  31. Feb 27, 2025 · via Library of Congress
    Introduced in Senate
IntroducedFeb 27, 2025
Policy areaFinance and Financial Sector
⎔ Pre-anchorPermanent record — anchoring ships soonEpoch 2026-Q4