Two technology trade groups sued the U.S. Consumer Financial Protection Bureau on Thursday to block a new rule giving the regulator supervisory authority over payment apps and digital wallets from large non-banks.NetChoice and TechNet said Congress did not give the CFPB free rein to aggressively, arbitrar

Channel News Asia

Singapore

Tech groups sue US CFPB to block rule on payment apps, digital wallets

Technology trade groups are suing the Consumer Financial Protection Bureau, saying the agency should not have regulatory oversight over mobile payment apps.

Ad Fontes Media

All Sides

Media Bias/Fact Check

Washington Times

The Washington Times LLC

United States

Tech firms sue consumer regulator over payment app oversight rule

Government of Singapore

Two technology trade groups sued to block a new rule giving the regulator supervisory authority over payment apps and digital wallets from large non-banks.

Herring Networks

San Diego

San Diego County

California

By Jonathan Stempel (Reuters) – Two technology trade groups sued the U.S. Consumer Financial Protection Bureau on Thursday to block a new rule giving the regulator supervisory authority over payment apps and digital wallets from large non-banks. NetChoice and TechNet said Congress did not give the CFPB free rein to aggressively, arbitrarily and capriciously police large non-banks offering consumer financial services through such products as Appl…

WTVB

Midwest Communications

Illustration: Hugo Herrera / The Verge Two major tech trade groups are challenging the Consumer Financial Protection Bureau’s (CFPB) effort to treat payment apps and digital wallets like banks. In a lawsuit filed in federal court in Washington, DC, NetChoice and TechNet claim that the CFPB’s digital payment regulation, announced on November 21st, 2024, is arbitrary and capricious. “The CFPB’s unlawful power grab undermines the rule of law, furth…

The Verge

Vox Media

CFPB sued for trying to regulate digital payment apps more like banks

TechNet and NetChoice are challenging a move by the US Consumer Financial Protection Bureau to regulate payment apps and digital wallets such as Apple Pay, Google Wallet, PayPal, Venmo and Cash App.

Cointelegraph

US consumer finance watchdog sued for treating digital wallets like banks

Gaby Del Valle / The Verge:
Tech trade groups NetChoice and TechNet sue CFPB for its efforts to regulate digital payment apps like Apple Pay, Google Wallet, and Venmo more like banks  —  Two major tech trade groups are challenging the Consumer Financial Protection Bureau's (CFPB) effort to treat payment apps and digital wallets like banks.

Techmeme

Tech trade groups NetChoice and TechNet sue CFPB for its efforts to regulate digital payment apps like Apple Pay, Google Wallet, and Venmo more like banks

After a fintech startup recently lost its users funds, it is hard to find sympathy for tech companies seeking loosened regulation.

Gizmodo

G/O Media

Tech Lobbyists Are Mad Feds Want to Regulate Digital Payment Apps Like Banks

The new December ruling from the US Consumer Financial Protection Bureau impacts payment apps and digital wallets offered by large non-bank companies.

CryptoPanic

Two technology trade groups have filed a lawsuit against the US Consumer Financial Protection Bureau (CFPB), challenging its push to treat payment …

Cryptocurrency News | Cryptocurrency Prices | Market Cap

Google

PayPal

Amazon

Apple

OpenAI

Tech

Startups

Cryptocurrency

Science

U-S-NEWS.COM

EURO-NEWS

American Banker

Investing Business Daily

MacDailyNews

CryptoTvplus: DeFi, NFT, Bitcoin, Ethereum Altcoin, Cryptocurrency & Blockchain News, Interviews, Re

Tech groups sue US CFPB to block rule on payment apps, digital wallets

Coverage Details

Bias Distribution

Ownership

Similar News Topics

Similar News Topics