Bills · 119th Congress · 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".

Where it stands

  1. Introduced2/27/25
  2. Passed SenatePassed 3/5/25
  3. HousePassed 4/9/25
  4. PresidentSigned 5/9/25
  5. LawPublic Law 119-11

Passed the Senate 51–47 on March 5, 2025 (Roll Call 106 →). Passed the House 219–211 on April 9, 2025 (Roll Call 95 →). Became Public Law 119-11 on May 9, 2025.

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Roll calls on this bill

Votes on passage
HouseOn Passage · 4/9/25PassageThe vote on whether this chamber approves the measure — usually by a simple majority of those voting. It becomes law only once both chambers pass the same text and the president signs it, or Congress overrides a veto.House: The Legislative Process ↗
Passed
  • Democratic0 Yea · 211 Nay · 2 Not voting
  • Republican219 Yea · 0 Nay · 1 Not voting
  • Independent / Other0 Yea · 0 Nay · 0 Not voting
SenateOn the Joint Resolution · 3/5/25Joint resolutionA vote to pass a joint resolution. Like a bill, it becomes law once both chambers pass it and the president signs it — except a proposed constitutional amendment, which needs two-thirds of each chamber and ratification by three-quarters of the states.Senate glossary: joint resolution ↗
Joint Resolution Passed
  • Democratic0 Yea · 44 Nay · 1 Not voting
  • Republican51 Yea · 1 Nay · 1 Not voting
  • Independent / Other0 Yea · 2 Nay · 0 Not voting
Official summary (CRS)

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.

Full text on congress.gov ↗
Sponsor
Sen. Pete Ricketts ( Republican · NE)
Cosponsors
5
Introduced
2/27/25
Policy area
Finance and Financial Sector

What happens next

Became Public Law 119-11.

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