CFPB Eyes More Oversight of Major Consumer Payment Nonbanks
By EsqSocial Corporation 20/12/24
The CFPB adopted a final rule providing for increased oversight of certain companies offering consumer payment products like mobile apps and digital wallets. Continuing to lean into its plans to expand its authority to supervise and examine non-bank providers of payments products, the rule subjects a handful of “larger participants” to CFPB oversight....
By: Orrick, Herrington & Sutcliffe LLP