Bill > SJRes28

This joint resolution disapproves a rule proposed by the Bureau of Consumer Financial Protection (CFPB) regarding the definition of "larger participants" in the market for general-use digital consumer payment applications. The resolution specifically targets a rule published in the Federal Register on December 10, 2024, which would have established criteria for identifying and regulating larger digital payment platforms. By passing this resolution, Congress would effectively nullify the CFPB's rule, preventing it from taking effect or having any legal standing. The purpose appears to be blocking new regulatory oversight of digital payment applications, potentially in response to concerns about government intervention in the financial technology sector. The resolution follows the Congressional Review Act process, which allows Congress to review and potentially overturn federal agency rules within a specific timeframe after their publication.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-joint-resolution/28/all-info