U.S. Regulators Seek to Supervise Big Tech’s Payment Services
The Consumer Finance Protection Bureau (CFPB) has proposed a new rule that would subject large technology firms that offer payment services to the same oversight and regulations as banks. The rule would affect companies such as Apple, PayPal, Google, Amazon, Meta, Square, and others that process millions of transactions per year. Why the CFPB Wants to Regulate Big Tech The CFPB is an agency created in 2011 after the 2008…










