Consumer watchdog to oversee digital wallets, payment apps

By The Hill | Created at 2024-11-21 21:46:21 | Updated at 2024-11-27 21:30:54 6 days ago

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…

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