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Apple Pay to Be Treated Like a Bank With Federal Scrutiny in the U.S.
The Consumer Financial Protection Bureau (CFPB) has finalized a new rule that will bring Apple Pay and other major digital wallet services under
Apple Pay, Cash App, and other digital wallets will be regulated more like banks now
The new rule is meant to ensure digital payment providers adhere to the same laws as credit unions and large banks. It will give the CFPB the authority to oversee their compliance
CFPB expands oversight of digital payments services including Apple Pay, Cash App and PayPal
The most popular apps covered by the rule collectively process more than 13 billion consumer payments a year, the CFPB said.
US government steps up oversight of Apple Pay and rivals
The US Consumer Financial Protection Bureau says it will apply rigorous oversight to Big Tech payment systems such as Apple Pay.
Will new Apple Pay oversight make Apple Bank a good idea?
As regulation threatens to tear Google apart and fundamentally both damage both Android and Apple, yet another regulatory noose is tightening around Cupertino, as its Apple Pay service will in future be regulated like a bank.
The US Consumer Financial Protection Bureau will now regulate Apple Pay, Venmo and others
The CFPB will supervise Apple Pay, Google Pay, Venmo and others in the areas of privacy and surveillance, debanking (losing access to their app without notice) and errors and fraud. This could provide more options for opting out of data collection and restricting them from misrepresenting their data protection practices,
Apple will now be treated like a bank, says US Consumer Financial Protection Bureau
The popularity of Apple Pay will now see the Cupertino company regulated by the US Consumer Financial Protection Bureau (CFPB),
Apple Pay Under Fire, CFPB Puts Mobile Wallet Giant on Watchlist
Apple Pay faces CFPB regulation, bringing stricter oversight to mobile wallets as federal watchdogs aim to ensure fairness and consumer protections.
Apple Pay, Cash App, PayPal and other apps to be treated more like banks
Some digital services look like banks and act like banks, but aren’t banks -- meaning they can, for instance, close down your account without notice. Or
CFPB finalizes rule to oversee digital payment giants like Apple Pay
New rules will let the CFPB supervise Apple Pay and other major players to protect consumers from fraud, privacy breaches, ...
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US Consumer Financial Protection Bureau to Oversee Apple Pay and Similar Payment Systems
Apple Pay has been so successful that it has caught the attention of bank and financial services regulators in the United ...