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Digital Wallets › Nonbank Firms › Consumer Financial Protection Act (CFPA)

Ballard Spahr LLP

Republican lawmakers ask CFPB to reopen comment period on proposal to supervise nonbank providers of digital wallets and payment...

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Patrick McHenry, the Republican Chair of the House Financial Services Committee, and two other Republican Committee members have sent a letter to Director Chopra regarding the CFPB’s proposed rule to supervise nonbank...more

Ballard Spahr LLP

CFPB issues proposal to supervise nonbank providers of digital wallets and payment apps

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The CFPB has issued a proposed rule to supervise nonbank companies that qualify as larger participants in a market for “general-use digital consumer payment applications.”  Comments on the proposal are due by January 8, 2024...more

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