CFPB sued for trying to regulate digital payment apps more like banks
NetChoice and TechNet are challenge the federal agency ’s cause to manage deference with Union fake and secrecy law by Apple Pay , Google Wallet , Cash App , Venmo , and others . Two major technical school patronage grouping are gainsay the Consumer Financial Protection Bureau ’s ( CFPB ) feat to cover defrayal apps and digital wallet like bank . In alawsuitfiled in Union judicature in Washington , DC , NetChoice and TechNet take thatthe CFPB ’s digital defrayal regulating , denote on November 21st , 2024 , is arbitrary and impulsive ....