Consumer watchdog to oversee digital wallets, payment apps ...Middle East

Large companies that offer digital wallets and payment apps will now be overseen by the Consumer Financial Protection Bureau (CFPB).  The CFPB finalized a rule Thursday to bring companies handling more than 50 million transactions a year under its supervision. This will include Apple, Google, Amazon, PayPal, Block, Venmo and Zelle, according to CNBC.  "Digital payments have gone from novelty to necessity and our oversight must reflect this reality,” CFPB Director Rohit Chopra said in a statement. "The rule will help to protect consumer privacy, guard against fraud, and prevent illegal account closures."  The agency already had enforcement authority over these large digital paymen

Hence then, the article about consumer watchdog to oversee digital wallets payment apps was published today ( Friday 22/11/2024 - 12:32 AM ) and is available on The Hill ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Consumer watchdog to oversee digital wallets, payment apps )

Also on site :

• Samsung Exynos 2700’s SBS Architecture Set to Extend Thermal Lead Over Snapdragon, Unlock A 30-40% Jump In Memory Bandwidth
• iPhone 18 Pro Max Is Proof That Apple No Longer Believes Thicker Devices Are Aesthetically Unattractive, As Long As There Are Benefits
• 16 GB DDR5 SO-DIMM Drops By $87 In China — The First Major Price Drop This Year