S.J.Res. 28 · 119th Congress
Repeal oversight of Big Tech payment apps
Disapproving the CFPB rule supervising large payment apps
What it does
Repealed the rule that put Venmo, Cash App, Apple Pay and Google Pay under the same consumer-protection supervision as banks.
Outcome
Signed into law on May 9, 2025.
The test
| Pillar | Question | Answer | Why |
|---|---|---|---|
| Economy | Are there carve-outs for named or narrow beneficiaries? | Hurts Americans | Exempts the largest tech payment companies from supervision banks still face. |
| Economy | Who lobbied for it, and who against? | Hurts Americans | Pushed by tech trade groups and payment companies; opposed by consumer groups. |
| Freedom | Does it protect or erode privacy, anonymity, speech, due process and the right to organize or sue? | Hurts Americans | Removes a regulator users could turn to over frozen funds and fraud. |
Votes counted: Senate 51–47 on Mar 5, 2025 · House 219–211 on Apr 9, 2025. Each member's page shows how they voted.