CONGRESS FOR VOTERS

RepublicanBill · H.J.Res. 64· House(119-HJRES-64)

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".

Rep. Flood
Age: 51 years
Nebraska
Introduced
2/27/2025
Last activity
2/27/2025 — Referred to the House Committee on Financial Services.
Sponsored by
Mike Flood
Cosponsors
Republican - 7Democrat - 0
Finance and Financial Sector
  1. Introduced
  2. In Committee

What this bill would do

This is a joint resolution introduced in the 119th Congress. It aims to disapprove a final rule submitted by the Bureau of Consumer Financial Protection. The rule in question is titled ``Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications''. If passed, this resolution would ensure that the rule has no force or effect.

Yes

  • Would high-income households be better off under this?+2

    The disapproval of the rule may benefit large financial institutions and high-income stakeholders by reducing regulatory compliance burdens.

  • Would business owners be better off under this?+2

    The resolution prevents new regulatory definitions that would apply to large participants in the digital payment market.

The opposite

  • Does this give people more protection from unfair business practices?-3

    The resolution prevents the implementation of a rule intended to define and regulate larger participants in digital payment markets, which could reduce consumer protections.

  • Does this give the federal government more power?-2

    By disapproving the rule, the resolution reduces the regulatory authority and power of the Bureau of Consumer Financial Protection.