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S.J.Res. 28 Senate Finance and Financial Sector

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".

Introduced
Feb 27, 2025
Sponsor
Sen. Ricketts, Pete (R-NE)
View on Congress.gov

BECAME LAW MAY 9, 2025

Became Law on May 9, 2025.

  1. Senate Introduced in Senate Feb 27, 2025
  2. Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Feb 27, 2025
  3. Senate Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c). Mar 4, 2025
  4. Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 20. Mar 4, 2025
  5. Senate Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 50 - 47. Record Vote Number: 103. (CR S1489) Mar 4, 2025
  6. Senate Measure laid before Senate by motion. (consideration: CR S1489) Mar 4, 2025
  7. Senate
    On the Motion to Proceed S.J.Res. 28 Mar 4, 2025
    Agreed Yea 50 Nay 47 Roll Call
  8. Senate Considered by Senate. (consideration: CR S1503, S1510-1511, S1520-1521) Mar 5, 2025
  9. Senate Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 51 - 47. Record Vote Number: 106. Mar 5, 2025
  10. Senate Passed Senate without amendment by Yea-Nay Vote. 51 - 47. Record Vote Number: 106. Mar 5, 2025
  11. Senate
    On the Joint Resolution S.J.Res. 28 Mar 5, 2025
    Agreed Yea 51 Nay 47 Roll Call
  12. Senate Message on Senate action sent to the House. Mar 6, 2025
  13. House Received in the House Mar 10, 2025
  14. House Held at the Desk Mar 10, 2025
  15. House 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. Apr 1, 2025
  16. House Rule H. Res. 282 failed passage of House. Apr 1, 2025
  17. House 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. Apr 7, 2025
  18. House Considered under the provisions of rule H. Res. 294. (consideration: CR H1514-1519) Apr 9, 2025
  19. 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. Apr 9, 2025
  20. House DEBATE - The House proceeded with one hour of debate on S.J. Res. 28. Apr 9, 2025
  21. House The previous question was ordered pursuant to the rule. Apr 9, 2025
  22. House 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. Apr 9, 2025
  23. House Considered as unfinished business. (consideration: CR H1532-1533) Apr 9, 2025
  24. Senate Passed/agreed to in House: On passage Passed by the Yeas and Nays: 219 - 211 (Roll no. 95). (text: CR H1514: 2) Apr 9, 2025
  25. House On passage Passed by the Yeas and Nays: 219 - 211 (Roll no. 95). (text: CR H1514) Apr 9, 2025
  26. House Motion to reconsider laid on the table Agreed to without objection. Apr 9, 2025
  27. House
    On Passage Apr 9, 2025
    Agreed Yea 219 Nay 211 Roll Call
  28. Senate
    Presented to President. May 5, 2025
  29. Senate
    Signed by President. May 9, 2025
  30. Senate Latest action
    Became Public Law No: 119-11. May 9, 2025

Cosponsors

5

Subjects

Administrative law and regulatory proceduresCongressional oversightConsumer Financial Protection BureauConsumer affairsInternet, web applications, social media

Committees

  • Banking, Housing, and Urban Affairs Committee
    • [Discharged From, Mar 4, 2025]
    • [Referred To, Feb 27, 2025]

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 as of: Public Law]

Bill Text

Formatted Text PDF United States Legislative Markup Formatted XML

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