119th Congress > Senate > Vote 103

Date: March 04, 2025

Result: 50-47 (Motion to Proceed Agreed to)

Clerk session vote number: 103

Sponsor: RICKETTS, John Peter (Pete) (R-NE)

Bill number: SJRES28

Question: On the Motion to Proceed

Description: 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".

Bill 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.



Bill titles: 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".

Links for more info on the vote: congress.gov

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