CFPB expands oversight of digital payments services

CFPB expands oversight of digital payments services including Apple Pay, Cash App and PayPal
The most popular apps covered by the rule collectively process more than 13 billion consumer payments a year, the CFPB said.
CFPB finalizes rule to oversee digital payment Giants Like Apple Pay
The CFPB’s new rule brings major digital payment apps like Apple Pay under federal supervision, addressing issues like fraud, privacy, and debanking to protect consumers.
CFPB expands oversight of digital payments services: Here's what you need to know
Rohit Chopra, Director of the Consumer Financial Protection Bureau, joins CNBC's 'Squawk Box' to discuss expanding digital pay oversight, the push to cap credit card interest rates, and more. Abbott issues executive order to arrest CCP operatives in Texas ...
US CFPB finalises rule to supervise big tech digital payments
Regulatory supervision will involve detailed scrutiny to ensure compliance with federal law, a process banks routinely undergo.
CFPB Will Treat Payment Apps Like Banks
The government's banking watchdog plans to keep a closer eye on payment apps like Venmo and PayPal from now on.
CFPB Releases Final Rule Establishing Supervisory Authority Over Large Digital Payment Providers
On Thursday, November 21, 2024, the Consumer Financial Protection Bureau (CFPB) published a final rule that will soon provide it with
Apple Pay, Other Tech Firms Come Under CFPB Oversight
The top US consumer watchdog will supervise Apple Inc. and other major technology firms that offer digital wallets and payment apps, finalizing a proposal from last year with several changes.
New CFPB Larger Participant Rule Boosts Oversight of Major Digital Payment Providers
On November 21, the CFPB announced the arrival of its finalized larger participant rule (the “Rule”) regulating nonbank companies offering digital funds transfer and payment wallet applications to consumers.
The Big Changes Coming To Elizabeth Warren’s CFPB And Fintech Regulation
With a new administration and GOP-controlled Congress, a wild swing in regulatory policy is coming to the Consumer Financial ...
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As the Trump Administration Looms, the CFPB Issues a Rule for Payments Apps
Federal regulation is coming to payments apps offered by the country’s biggest tech companies. The Consumer Financial ...
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The CFPB's 'open banking' rule is a solution in search of a problem
Banks solved the issue of consumer data sharing years ago. Why is the Consumer Financial Protection Bureau stepping in now, ...
Top federal watchdog announces new oversight of tech giants
The Consumer Financial Protection Bureau could soon closely monitor payment systems run by Google, Apple and Venmo.
Student loan servicers are pulling incorrect payments from borrowers' bank accounts
“Unfortunately, autopay errors were one of the most widespread, basic and consequential servicer errors we saw this year,” ...
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CFPB's Chopra: AI can be the key to fairer credit scoring
Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, ...