CFPB Proposes to Regulate Large Digital Wallet and Payment App Providers
Global Fintech & Digital Assets
DECEMBER 18, 2023
Under the Dodd-Frank Act, large non-bank digital consumer payment companies are subject to CFPB enforcement authority. Under the Proposal, however, they would be subject to heightened scrutiny via routine monitoring, requests for information, and on-site or off-site compliance examinations.
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