Payment Tech Gets Some CFPB Guidance
Tysons Corner partner Mary Zinsner and Virginia Beach associate Ethan Ostroff’s blog post – “ CFPB Issues ‘Guiding Principles’ for Financial Technology Payment Systems to Ensure Consumer Protections” – was the subject of a July 24 Corporate Counsel article – “ Payment Tech Gets Some CFPB Guidance.”
The article recaps key takeaways from the duo’s blog post about the Consumer Financial Protection Bureau’s recently released guiding principles for financial payment systems to ensure consumer protection.
“The CFPB guidelines reflect the intent of the CFPB to extend its supervisory authority more aggressively in the payments industry, particularly with respect to nonbank entities,” Mary and Ethan stated.