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".
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Feb 27, 2025)
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.
What just happenedFeb 27, 2025
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseFeb 27, 2025
- Feb 27, 2025IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Feb 27, 2025IntroReferralIntro-H
Introduced in House
- Feb 27, 2025IntroReferral1000
Introduced in House