118th Congress · HOUSE BILLBILL

H.R. 7531 — Secure Payments Act of 2024

“To require the Board of Governors of the Federal Reserve System to study the impacts of the Board's Reg II proposed rule, to complete a quantitative impact analysis of such rule, and to consider the results of such study and analysis before finalizing such rule, and for other purposes.”

Finance and financial sector

Introduced Mar 5, 2024

Last action Mar 5, 2024

Pipeline · Bill → Law

Step 1

Introduced

Mar 5, 2024

Step 2

Referred

Mar 5, 2024

Financial Services

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill prohibits the Board of Governors of the Federal Reserve System from implementing the proposed rule published on November 14, 2023, titled Debit Card Interchange Fees and Routing until the consideration of a report on the rule’s effects. The proposed rule establishes standards for reasonable debit card interchange fees and prohibits debit card network exclusivity. The report must analyze the impact of the rule on consumers, merchants, and financial institutions.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Mar 5, 2024

Introduced in House

Mar 5, 2024

Referred to the House Committee on Financial Services.