S.J.Res. 28
Became lawA 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".
Full text of the bill
Official source on Congress.gov ↗[119th Congress Public Law 11] [From the U.S. Government Publishing Office] [[Page 139 STAT. 54]] Public Law 119-11 119th Congress 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''. <<NOTE: May 9, 2025 - [S.J. Res. 28]>> Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That Congress disapproves the final rule submitted by the Bureau of Consumer Financial Protection relating to ``Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications'' (89 Fed. Reg. 99582 (December 10, 2024)), and such rule shall have no force or effect. Approved May 9, 2025. LEGISLATIVE HISTORY--S.J. Res. 28: --------------------------------------------------------------------------- CONGRESSIONAL RECORD, Vol. 171 (2025): Mar. 4, 5, considered and passed Senate. Apr. 9, considered and passed House. <all>
Plain-language analysis
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In plain terms
This bill is a joint resolution that disapproves a rule from the Bureau of Consumer Financial Protection. The rule was about defining larger participants in the market for general-use digital consumer payment applications. By disapproving this rule, it means that the rule will not be enforced and will have no legal effect. This affects how the Bureau regulates companies that provide digital payment services.
Hidden provisions
Congress disapproves the final rule submitted by the Bureau of Consumer Financial Protection relating to 'Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications' and such rule shall have no force or effect.
Questionable / off-intent provisions
No off-intent or questionable provisions were flagged.
Junk / unrelated provisions
No filler or unrelated riders were flagged.