S.J. Res. 28, Public Law 119-11

The Consumer Financial Protection Bureau cannot implement or enforce its rule defining which companies are larger participants in the general-use digital payment app market.

What the law does ​

• Disapproves the bureau’s final rule on larger digital payment app providers.
• Prevents the rule from taking effect or being enforced.

Who it affects ​

• Companies offering general-use digital consumer payment applications.
• Consumers who use general-use digital payment apps.
• The Consumer Financial Protection Bureau.

Context ​

The joint resolution was approved on May 9, 2025.

Breakdown ​

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”. ​

This joint resolution overturns a Consumer Financial Protection Bureau rule that defined which companies are larger participants in the market for general-use digital consumer payment applications. The rule has no legal force or effect.

Key takeaways

• Congress disapproved the Consumer Financial Protection Bureau’s final rule on larger participants in the general-use digital consumer payment application market.
• The disapproved rule cannot take effect or be enforced.
• The joint resolution was approved on May 9, 2025.