Privacy Rights Clearinghouse and Coalition urge lawmakers to oppose CRA resolution targeting consumer protections for payment apps

Privacy Rights Clearinghouse, alongside a coalition of civil rights, consumer, and privacy organizations, strongly opposes the Congressional Review Act (CRA) resolution S.J. Res 28, which would roll back vital consumer protections for digital payment apps. This resolution threatens to remove essential oversight that helps ensure the safety and security of millions of users who rely on these apps daily. We urge Senators to reject this resolution and protect consumers from increased vulnerability to fraud, misuse of sensitive personal data, and unjust account freezes or deactivations.

The rule in question requires major digital payment platforms, such as those operated by Big Tech companies, to adhere to the same stringent oversight and consumer protection standards currently applied to traditional banks. This oversight includes important safeguards against unauthorized transactions, deceptive practices, and unjustified account suspensions, ensuring that individuals can reliably access their own funds without interference.

Eliminating this oversight would create a dangerous regulatory gap, exposing users to increased risks of fraud and exploitation while allowing payment app providers to evade accountability. Maintaining strong oversight is crucial for protecting consumers’ financial security and personal privacy in an increasingly digital economy. We urge Senators to vote no on S.J. Res 28.