Large companies that offer digital wallets and payment apps will now be overseen by the Consumer Financial Protection Bureau (CFPB). The CFPB finalized a rule Thursday to bring companies

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,

The popularity of Apple Pay will now see the Cupertino company regulated by the US Consumer Financial Protection Bureau (CFPB),

The CFPB has taken steps to place Google under formal federal supervision, a move that could subject the company to regular insepctions.

Apple Pay has been so successful that it has caught the attention of bank and financial services regulators in the United States.

This is about to change: the U.S. Consumer Financial Protection Bureau (CFPB) has just ruled that all digital services that handle a significant number of transactions should be subject to bank-like supervision.

The Consumer Financial Protection Bureau (CFPB) has finalized a new rule that will bring Apple Pay and other major digital wallet services under

The Consumer Financial Protection Bureau finalized a rule expanding its oversight over non-bank wallet apps hosted by big tech companies. Payment services and wallet apps from Apple, Google, Amazon, and others would fall under the CFPB's purview and potential scrutiny.