Money & Votes · Banking & Financial
$4.6 million in Banking & Financial PAC money was in the room for the vote on S.J.Res. 28
198 members who voted on S.J.Res. 28 also banked banking & financial PAC money in the 2024 cycle. Who got what, and how they voted.
· U.S. Wealth Watcher
226 members who cast a yes or no vote took banking & financial PAC money in the 2024 cycle. The biggest recipients are shown; the full list is on the bill page.
This resolution cancels a rule from the Consumer Financial Protection Bureau (CFPB) that would have allowed the agency to supervise large companies offering digital payment apps, such as Venmo or PayPal. The rule defined which companies count as "larger participants" in the market for general-use digital consumer payment applications. By disapproving the rule, Congress prevents the CFPB from overseeing these companies under that specific regulation.
This affects users of digital payment apps and the companies that provide them. Without the rule, the CFPB cannot examine these companies' practices for consumer protection issues, such as error resolution or data privacy.
Major public companies this covers
- AppleAAPL
- AlphabetGOOGL
- PayPalPYPL
- BlockSQ
The vote
How the chamber split
219 yea · 211 nayPassed · 3 not voting
219 yes
211 no
The debate
What each side says
Supporters
- The rule would have given the CFPB too much power over a fast-changing industry, potentially stifling innovation and competition.report
- The CFPB's definition of 'larger participants' was too broad and could have included many companies that are not major players, creating unnecessary regulatory burdens.bill
- Existing state and federal laws already protect consumers in digital payments, making this rule redundant.report
Critics
- Without the rule, the CFPB cannot supervise large digital payment companies, leaving consumers vulnerable to unfair or deceptive practices.report
- The rule was designed to close a gap in oversight, as digital payment apps handle billions of dollars but were not subject to the same supervision as banks.bill
- Canceling the rule weakens consumer protections at a time when more people rely on digital payments for everyday transactions.report
Each point links to its source. The views are attributed to those sources, not stated as ours.
Money lens
Banking & Financial money, split by party
▲ Voted yes219
0 Dem214 Rep
Banking & Financial PAC receipts$2.6M▸
- AMERICAN BANKERS ASSOCIATION PAC (BANKPAC)$646K
- UBS AMERICAS INC. POLITICAL ACTION COMMITTEE (UBS PAC)$220K
- AMERICA'S CREDIT UNIONS PAC OF CREDIT UNION NATIONAL ASSOCIATION, INC.$200K
- AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS POLITICAL ACTION COMMITTEE$200K
- DELOITTE POLITICAL ACTION COMMITTEE$160K
- ERNST & YOUNG POLITICAL ACTION COMMITTEE$143K
- THE FARM CREDIT COUNCIL POLITICAL ACTION COMMITTEE$103K
- MORTGAGE BANKERS ASSOCIATION POLITICAL ACTION COMMITTEE (MORPAC)$100K
- REGIONS FINANCIAL CORPORATION POLITICAL ACTION COMMITTEE$94K
- INVESTMENT COMPANY INSTITUTE POLITICAL ACTION COMMITTEE (ICI PAC)$60K
- NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUSTS, INC. POLITICAL ACTION COMMITTEE$60K
- INDEPENDENT COMMUNITY BANKERS OF AMERICA POLITICAL ACTION COMMITTEE$58K
- HUNTINGTON BANCSHARES INC. POLITICAL ACTION COMMITTEE (HBI-PAC)$50K
- CAPITAL ONE FINANCIAL CORP. ASSOC. POLITICAL FUND$50K
- TRUIST FINANCIAL CORPORATION FEDERAL PAC (FORMERLY SUNTRUST BANKS, INC. POLITICAL ACTION COMMITTEE)$48K
- PINNACLE WEST CAPITAL CORPORATION PAC$45K
- THE CAPITAL GROUP COMPANIES INC POLITICAL ACTION COMMITTEE$35K
- FEDERAL BIPARTISAN VOLUNTARY PUBLIC AFFAIRS COMMITTEE OF THE PNC FINANCIAL SERVICES GROUP, INC. (PNC$31K
- AMERICAN FINANCIAL SERVICES ASSOCIATION PAC$30K
- U.S. BANCORP FEDERAL POLITICAL ACTION COMMITTEE$30K
- CITIGROUP INC. PAC - FEDERAL (CITI PAC - FEDERAL)$30K
- PRICEWATERHOUSECOOPERS POLITICAL ACTION COMMITTEE I$30K
- THE CARLYLE GROUP INC. PAC (AKA 'CARLYLE PAC')$29K
- SMALL BUSINESS INVESTOR ALLIANCE PAC$24K
- AMERICAN INVESTMENT COUNCIL POLITICAL ACTION COMMITTEE$20K
- BANK OF AMERICA CORPORATION FEDERAL PAC$20K
- AMERICAN EXPRESS COMPANY POLITICAL ACTION COMMITTEE (AXPPAC)$20K
- LPL FINANCIAL LLC POLITICAL ACTION COMMITTEE (LPL PAC)$18K
- WELLS FARGO AND COMPANY EMPLOYEES GOOD GOVERNMENT FEDERAL FUND II$10K
- ALLY FINANCIAL INC. ADVOCACY POLITICAL ACTION COMMITTEE$10K
- HSBC TECHNOLOGY AND SERVICES USA INC. FEDERAL PAC (HSBC FEDERAL PAC)$10K
- UNITED WHOLESALE MORTGAGE PAC (UWM PAC)$10K
- COMMERCE BANCSHARES, INC., PAC$10K
- MORGAN STANLEY POLITICAL ACTION COMMITTEE$10K
- COMMUNITY BANCSHARES OF MISSISSIPPI INC. POLITICAL ACTION COMMITTEE$7K
- FIRST CAPITAL PAC$3K
- SECURITY FINANCE CORPORATION OF SPARTANBURG AND AFFILIATES POLITICAL ACTION COMMITTEE$3K
Members covered123 / 219
Avg per covered$21K
▼ Voted no211
206 Dem0 Rep
Banking & Financial PAC receipts$2.1M▸
- UBS AMERICAS INC. POLITICAL ACTION COMMITTEE (UBS PAC)$368K
- DELOITTE POLITICAL ACTION COMMITTEE$263K
- AMERICAN BANKERS ASSOCIATION PAC (BANKPAC)$168K
- AMERICA'S CREDIT UNIONS PAC OF CREDIT UNION NATIONAL ASSOCIATION, INC.$155K
- AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS POLITICAL ACTION COMMITTEE$150K
- PRICEWATERHOUSECOOPERS POLITICAL ACTION COMMITTEE I$105K
- NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUSTS, INC. POLITICAL ACTION COMMITTEE$100K
- INVESTMENT COMPANY INSTITUTE POLITICAL ACTION COMMITTEE (ICI PAC)$85K
- ERNST & YOUNG POLITICAL ACTION COMMITTEE$80K
- REGIONS FINANCIAL CORPORATION POLITICAL ACTION COMMITTEE$53K
- TRUIST FINANCIAL CORPORATION FEDERAL PAC (FORMERLY SUNTRUST BANKS, INC. POLITICAL ACTION COMMITTEE)$53K
- THE FARM CREDIT COUNCIL POLITICAL ACTION COMMITTEE$40K
- CAPITAL ONE FINANCIAL CORP. ASSOC. POLITICAL FUND$40K
- THE CARLYLE GROUP INC. PAC (AKA 'CARLYLE PAC')$35K
- BLACKROCK FUNDS SERVICES GROUP LLC POLITICAL ACTION COMMITTEE (BLACKROCK PAC)$30K
- SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION POLITICAL ACTION COMMITTEE$30K
- MORGAN STANLEY POLITICAL ACTION COMMITTEE$30K
- THE CAPITAL GROUP COMPANIES INC POLITICAL ACTION COMMITTEE$23K
- BANK OF AMERICA CORPORATION FEDERAL PAC$20K
- PINNACLE WEST CAPITAL CORPORATION PAC$20K
- U.S. VENTURE INC. PAC$18K
- THRIVENT FINANCIAL FOR LUTHERANS POLITICAL ACTION COMMITTEE$12K
- INFIN, A FINANCIAL SERVICES ALLIANCE, INC. PAC ('INFIN PAC')$11K
- AMERICAN FINANCIAL SERVICES ASSOCIATION PAC$10K
- AMERICAN INVESTMENT COUNCIL POLITICAL ACTION COMMITTEE$10K
- MORTGAGE BANKERS ASSOCIATION POLITICAL ACTION COMMITTEE (MORPAC)$10K
- FIRST AMERICAN FINANCIAL CORPORATION PAC$10K
- FIDELITY NATIONAL FINANCIAL INC PAC 2001$10K
- ALLY FINANCIAL INC. ADVOCACY POLITICAL ACTION COMMITTEE$10K
- KPMG PARTNERS/PRINCIPALS AND EMPLOYEES PAC$10K
- AMERICAN EXPRESS COMPANY POLITICAL ACTION COMMITTEE (AXPPAC)$10K
- FEDERAL BIPARTISAN VOLUNTARY PUBLIC AFFAIRS COMMITTEE OF THE PNC FINANCIAL SERVICES GROUP, INC. (PNC$10K
- HUNTINGTON BANCSHARES INC. POLITICAL ACTION COMMITTEE (HBI-PAC)$10K
- TD BANK N.A. POLITICAL ACTION COMMITTEE$10K
- SMALL BUSINESS INVESTOR ALLIANCE PAC$10K
- STRUCTURED FINANCE COALITION POLITICAL ACTION COMMITTEE (STRUCTURED FINANCE PAC)$10K
- THE PRIVATE INVESTOR COALITION, INC. POLITICAL ACTION COMMITTEE$10K
- SYNCHRONY FINANCIAL EMPLOYEES POLITICAL ACTION COMMITTEE (SYNCPAC)$10K
- LPL FINANCIAL LLC POLITICAL ACTION COMMITTEE (LPL PAC)$10K
- THE HARTFORD FINANCIAL SERVICES GROUP, INC. FEDERAL PAC (AKA HARTFORD ADVOCATES FEDERAL FUND)$10K
- UNITED WHOLESALE MORTGAGE PAC (UWM PAC)$10K
- INDEPENDENT COMMUNITY BANKERS OF AMERICA POLITICAL ACTION COMMITTEE$8K
- COMMERCE BANCSHARES, INC., PAC$5K
- DISCOVER FINANCIAL SERVICES POLITICAL ACTION COMMITTEE$5K
Members covered103 / 211
Avg per covered$20K
See all 226 members and the full breakdown on the S.J.Res. 28 bill page →
This is an automatically generated timeline of dated public records. It states facts and implies nothing about any decision or motive. Correlation is not causation.
We report from public records and published reporting. Appearing here is not an allegation of wrongdoing.
Sources
Primary records