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CFPB Gives Itself Oversight of Big Tech's Digital-Payment Apps

The Consumer Financial Protection Bureau said Thursday it finalized a rule giving itself the authority to regulate big tech firms in much the same way the consumer watchdog oversees major banks. The largest payment apps now process over 13 billion consumer transactions annually, the CFPB said. The CFPB is trying to tackle its priorities before President-elect Trump takes office in January.

Block downgraded to Neutral from Outperform at Exane BNP Paribas

Exane BNP Paribas downgraded Block (SQ) to Neutral from Outperform with an $88 price target The company’s growth is slowing as the shares have rallied, the analyst tells investors in a research note. The firm cites its more cautious view of Cash App, β€œmild” downside risk to consensus estimates and the rally in the stock over the last month for the downgrade. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today’s best-performing
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