SJRES28119th Congress

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".

Sponsored By: Senator Ricketts, Pete [R-NE]

Became Law

Summary

Nullifies the CFPB rule that defined which firms count as 'larger participants' in the market for general-use digital consumer payment applications. It prevents that definition from being used to expand the Bureau's supervisory or regulatory reach to additional market participants.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Ricketts, Pete [R-NE]

NE • R

Cosponsors

  • Sen. Budd, Ted [R-NC]

    NC • R

    Sponsored 2/27/2025

  • Sen. Banks, Jim [R-IN]

    IN • R

    Sponsored 3/3/2025

  • Bill Hagerty

    TN • R

    Sponsored 3/3/2025

  • Sen. Fischer, Deb [R-NE]

    NE • R

    Sponsored 3/4/2025

  • Sen. Scott, Tim [R-SC]

    SC • R

    Sponsored 3/4/2025

Roll Call Votes

All Roll Calls

Yes: 320 • No: 305

house vote • 4/9/2025

On Passage

Yes: 219 • No: 211

senate vote • 3/5/2025

On the Joint Resolution S.J.Res. 28

Yes: 51 • No: 47

senate vote • 3/4/2025

On the Motion to Proceed S.J.Res. 28

Yes: 50 • No: 47

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