Articles + Publications July 18, 2024

CFPB Proposal Would Set Up Federal Exams for Nonbank Consumer Digital Payment Players

A pending proposal at the Consumer Financial Protection Bureau could pull the largest nonbank digital payments players under a direct federal examination process, something they’ve not experienced up until now. That may level the competitive playing field somewhat. However, the financial institutions that some of the nonbanks work with should familiarize themselves with the proposed rule.

Read the full article via The Financial Brand.