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This legislation disapproves and nullifies a Consumer Financial Protection Bureau (CFPB) final rule that defined which firms count as “larger participants” in the market for general‑use digital consumer payment applications. It declares that the listed CFPB rule has no force or effect, removing that specific federal regulatory definition from law.
Referred to the House Committee on Financial Services.
Introduced February 27, 2025 by Mike Flood · Last progress 1 year ago