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".

Bill 119 hjres 64, also known as the 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," is a piece of legislation that aims to reject a rule proposed by the Bureau of Consumer Financial Protection.

The rule in question seeks to define larger participants in the market for general-use digital consumer payment applications. This means that the Bureau of Consumer Financial Protection wants to establish criteria for determining which companies or entities are considered significant players in the digital consumer payment industry.

If passed, Bill 119 hjres 64 would disapprove of this rule, effectively preventing it from being implemented. This could have implications for how the digital consumer payment industry is regulated and overseen by the government. Supporters of the bill argue that the rule is unnecessary and could potentially stifle innovation in the digital payment sector. They believe that the market should be allowed to operate freely without unnecessary government intervention. Opponents of the bill, on the other hand, argue that defining larger participants in the digital payment industry is important for consumer protection and ensuring fair competition. They believe that the rule proposed by the Bureau of Consumer Financial Protection is necessary to prevent abuse and misconduct in the industry. Overall, Bill 119 hjres 64 is a contentious piece of legislation that highlights the ongoing debate over the regulation of the digital consumer payment industry. It remains to be seen how Congress will ultimately decide on this issue.