S.J.Res. 28
Cancels rule on payment app oversight
Voids a Consumer Financial Protection Bureau rule that made large payment app companies subject to the agency's supervision.
- Cancels a rule published December 10, 2024
- The rule covered payment app companies handling 50 million or more transactions a year
- It applied to companies that are not small businesses
- Those companies would have been watched over by the consumer bureau
Became law · Public Law 119-11