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CFPB Finalizes Rule on Federal Oversight of Popular Digital Payment Apps

Summary by Hampton Roads Messenger
Tweet Final rule brings supervision to Big Tech and other widely used digital payment apps handling over 50 million transactions annually WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today finalized a rule to supervise the largest nonbank companies offering digital funds transfer and payment wallet apps. The rule will help the CFPB to ensure that these companies – specifically those handling more than 50 million transaction…
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