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S.J.Res. 28 · 119th Congress · Public Law 119-11

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".

The law is a single resolving clause, the same as when it was introduced.

Signed May 9, 2025 · Introduced February 27, 2025 in the Senate

Sponsor: Sen. Pete Ricketts (R-NE) · 5 cosponsors (5 R)

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Official title

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.

Official summary (Congressional Research Service) · as public law

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.

How it became law

  1. IntroducedFeb 27
  2. CommitteeMar 4
  3. House—
  4. SenateMar 5
  5. SignedMay 9

As introduced: 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.

Key steps, cosponsors and text changes (16)

  1. Sponsor

    Sen. Pete Ricketts (R-NE)

  2. Original cosponsors

    Sen. Ted Budd (R-NC)

  3. SenateIntroduced in Senate

  4. Text: Introduced in Senate

    1 section

  5. Cosponsors joined

    Sen. Bill Hagerty (R-TN), Sen. Jim Banks (R-IN)

  6. Cosponsors joined

    Sen. Deb Fischer (R-NE), Sen. Tim Scott (R-SC)

  7. SenateMotion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 50 - 47. Record Vote Number: 103. (CR S1489)

  8. SenateSenate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).

  9. Text: Placed on Calendar Senate

    1 section, no changes

  10. SenatePassed Senate without amendment by Yea-Nay Vote. 51 - 47. Record Vote Number: 106.

  11. Text: Engrossed in Senate

    1 section, no changes

  12. HouseOn passage Passed by the Yeas and Nays: 219 - 211 (Roll no. 95). (text: CR H1514)

  13. HousePresented to President.

  14. Text: Enrolled Bill

    1 section, no changes

  15. Became Public Law No: 119-11.

  16. Signed by President.

Show every recorded step (30)

  1. Sponsor

    Sen. Pete Ricketts (R-NE)

  2. Original cosponsors

    Sen. Ted Budd (R-NC)

  3. SenateRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

  4. SenateIntroduced in Senate

  5. Text: Introduced in Senate

    1 section

  6. Cosponsors joined

    Sen. Bill Hagerty (R-TN), Sen. Jim Banks (R-IN)

  7. Cosponsors joined

    Sen. Deb Fischer (R-NE), Sen. Tim Scott (R-SC)

  8. SenateMeasure laid before Senate by motion. (consideration: CR S1489)

  9. SenateMotion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 50 - 47. Record Vote Number: 103. (CR S1489)

  10. SenatePlaced on Senate Legislative Calendar under General Orders. Calendar No. 20.

  11. SenateSenate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).

  12. Text: Placed on Calendar Senate

    1 section, no changes

  13. SenatePassed Senate without amendment by Yea-Nay Vote. 51 - 47. Record Vote Number: 106.

  14. SenateConsidered by Senate. (consideration: CR S1503, S1510-1511, S1520-1521)

  15. Text: Engrossed in Senate

    1 section, no changes

  16. HouseReceived in the House

  17. HouseRule H. Res. 282 failed passage of House.

  18. HouseRules 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.

  19. HouseRules 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.

  20. HouseOn passage Passed by the Yeas and Nays: 219 - 211 (Roll no. 95). (text: CR H1514)

  21. HouseConsidered as unfinished business. (consideration: CR H1532-1533)

  22. HousePOSTPONED 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.

  23. HouseThe previous question was ordered pursuant to the rule.

  24. HouseDEBATE - The House proceeded with one hour of debate on S.J. Res. 28.

  25. HouseRule 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.

  26. HouseConsidered under the provisions of rule H. Res. 294. (consideration: CR H1514-1519)

  27. HousePresented to President.

  28. Text: Enrolled Bill

    1 section, no changes

  29. Became Public Law No: 119-11.

  30. Signed by President.

Source: GovInfo bill status and text versions. 5 cosponsors.

Every section

All 1 section, in order

From the enrolled bill text on GovInfo. Read any section in full on Congress.gov.

  1. TextThat Congress disapproves the final rule submitted by the Bureau of Consumer Financial Protection…

Sponsor and cosponsors

Show all 6 members, by last name

Sponsor: Sen. Pete Ricketts (R-NE)

  • Sen. Jim Banks (R-IN)
  • Sen. Ted Budd (R-NC)
  • Sen. Deb Fischer (R-NE)
  • Sen. Bill Hagerty (R-TN)
  • Sen. Tim Scott (R-SC)
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Sources: bill text and status, GovInfo (Enrolled Bill) · Official summary, Congressional Research Service · Congress.gov, as of November 1, 2026. US government works are in the public domain · This bill on Congress.gov (opens in new tab)