S.J.Res. 28: 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".
A Senate joint resolution (S.J.Res.) in the 119th U.S. Congress.
Overview
| Congress | 119th U.S. Congress (2025–2026) |
|---|---|
| Type | Senate joint resolution (S.J.Res.) |
| Originating chamber | Senate |
| Introduced | 2025-02-27 |
| Sponsor | Sen. Ricketts, Pete [R-NE] |
| Policy area | Finance and Financial Sector |
| Cosponsors | 5 |
| Latest action | 2025-05-09 — Became Public Law No: 119-11. |
| Last updated | 2026-07-27 |
Summary
Official summary (Introduced in Senate, 2025-02-27):
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.
Cosponsors (5)
| Name | Party / state |
|---|---|
| Ted Budd | R NC (original cosponsor) 2025-02-27 |
| Jim Banks | R IN 2025-03-03 |
| Bill Hagerty | R TN 2025-03-03 |
| Deb Fischer | R NE 2025-03-04 |
| Tim Scott | R SC 2025-03-04 |
Full text & official record
The official bill text, section-by-section summary, amendments, committee reports, and the complete legislative timeline for S.J.Res. 28 are published by Congress on congress.gov.
View S.J.Res. 28 on congress.gov →
Frequently asked questions
What is S.J.Res. 28?
S.J.Res. 28 is a Senate joint resolution (S.J.Res.) introduced in the 119th U.S. Congress, originating in the Senate. Official title: 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 can I read the full bill text?
The full text, cosponsors, amendments, and legislative status for S.J.Res. 28 are available on congress.gov.
Bill data: congress.gov API (official congressional records).