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Disapproval of Oversight for Large Digital Payment Apps

This document means Congress disagrees with new rules that would define which large digital payment applications are subject to oversight. In practice, these specific rules will not take effect, which may impact how some payment services you use daily are regulated.
Key points
Congress disapproves rules for defining larger participants in digital payment markets.
The disapproved rules will have no legal effect, meaning no new regulations for certain payment companies.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HJRES_64
Sponsor: Rep. Flood, Mike [R-NE-1]
Process start date: 2025-02-27
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL 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".

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HJRES_64.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-02-27.

What are the main provisions?

Key points include:

  • Congress disapproves rules for defining larger participants in digital payment markets.
  • The disapproved rules will have no legal effect, meaning no new regulations for certain payment companies.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Flood, Mike [R-NE-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-21.

CATEGORIES

Economy Courts and Law