CFPB Proposes to Regulate Large Digital Wallet and Payment App Providers
Global Fintech & Digital Assets
DECEMBER 18, 2023
The proposal would subject certain large non-bank companies offering wallet and payment services to federal regulatory oversight on par with banks and credit unions. This Proposal is the sixth CFPB rulemaking (proposed or finalized) to clarify the scope of larger participants of markets for consumer financial products or services.
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