CFPB expands oversight of digital payments services including Apple Pay, Cash App, PayPal and Zelle

By NBC News | Nov 21, 2024 at 10:22 AM EST

The Consumer Financial Protection Bureau finalized a rule to supervise nonbank firms offering financial services like payments and wallet apps. Tech giants and payment firms processing at least 50 million transactions annually will be subject to proactive examinations to ensure legal compliance. This expanded oversight aims to protect consumer privacy and prevent fraud.

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