CFPB Finalizes Rule on Popular Digital Payment Apps to Protect Personal Data, Reduce Fraud, and Stop Illegal “Debanking”
The final rule brings supervision to “Big Tech” and other widely used digital payment apps The Consumer Financial Protection Bureau (CFPB) has finalized a rule to supervise the largest non-bank companies offering digital funds transfer and payment wallet apps.
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.
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 Finalizes Rule Increasing Federal Oversight On Nonbank Fintechs
Today, the Consumer Financial Protection Bureau (CFPB) issued its final rule that increases federal oversight on the largest nonbank companies offering digital payment and wallet apps to protect personal data — specifically,
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.
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.
JD Supra11h
CFPB Voluntarily Extends Effective Date of Advisory Opinion on Medical Debt
Earlier this month, we discussed the lawsuit filed by ACA International, LLC and Collection Bureau Services, Inc. in the U.S. District Court for ...
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 ...
ConsumerAffairs1d
Banks have long knives out for consumer watchdog CFPB
The Consumer Financial Protection Bureau (CFPB) was founded after the financial crisis of 2008 to rein in banks and other ...
JD Supra13h
CFPB Enters Into $95 Million Consent Order with Credit Union to Resolve Allegations of Improper Overdraft Fee Practices
On November 7, 2024, the CFPB ann​ounced​​ that it had entered into​ a consent order with a major credit union​​ resolving ​allegations that ...
CFPB expands oversight to PayPal and Block, says New Street
New Street says the Consumer Financial Protection Bureau’s finalized rule that it will soon supervise non-bank firms that offer financial ...
Auto Remarketing15h
CFPB examines carveouts in state data privacy laws for financial institutions
The Consumer Financial Protection Bureau recently released a report examining federal and state-level privacy protections for ...
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.
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,” ...