CFPB Gives Itself Oversight of Big Tech's Digital-Payment Apps
21 November 2024 at 10:00
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.