CONGRESS FOR VOTERS

Mike Flood (R-NE)

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".

H.J.Res. 64 · House resolution Finance and Financial Sector

A Republican resolution with 7 Republican cosponsors · See all 7 cosponsors

Last activity — Referred to the House Committee on Financial Services.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  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

  • Scored +2

    Would high-income households be better off under this?

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

  • Scored +2

    Would business owners be better off under this?

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

The opposite

  • Scored -3

    Does this give people more protection from unfair business practices?

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

  • Scored -2

    Does this give the federal government more power?

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