This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau (CFPB) titled Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications and published on December 10, 2024. The rule defines larger participants in the general-use digital consumer payment application market (i.e., payment apps) that are subject to CFPB supervisory authority. The rule defines larger participants in this market as nonbanks (1) with an annual volume of at least 50 million transactions, and (2) that are not small business concerns.
Disabled Veterans Housing Support ActThis bill excludes compensation received for a military service-connected disability from a veteran's income when determining eligibility for assistance under the Community Development Block Grant (CDBG) program.The CDBG program provides grants to urban communities for development activities focused on revitalizing neighborhoods, economic development, and providing improved community facilities and services.Additionally, the Government Accountability Office must report on how service-connected disability compensation is treated when determining eligibility for all programs administered by the Department of Housing and Urban Development. This includes identifying instances where the treatment of such compensation is inconsistent with the requirement under this bill.
Repealing Big Brother Overreach ActThis bill repeals the Corporate Transparency Act. The act requires existing companies and newly created companies to report beneficial ownership information to the Department of the Treasury’s Financial Crimes Enforcement Network for purposes of addressing the financing of terrorism and money laundering.
A joint resolution disapproving the rule submitted by the Financial Crimes Enforcement Network relating to "Anti-Money Laundering Regulations for Residential Real Estate Transfers".