At the end of last month, the CFPB sent orders to six large technology platforms offering payment services that directs them to provide information to the Bureau about their payments products and services and their collection and use of personal payments data.
On November 5, 2021, the CFPB published a notice in the Federal Register seeking public comments to inform its inquiry. The notice states that the Bureau invites comments from “any interested parties, including consumers, small businesses, advocates, financial institutions, investors, and experts in privacy, technology, and national security.” Comments must be received on or before December 6, 2021.
