Apple Pay, other tech firms come under CFPB regulatory oversight
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The U.S. Consumer Financial Protection Bureau (CFPB) will now supervise Apple Inc. and other major tech firms offering digital wallets and payment apps, finalizing a proposal from last year with some changes.
November 22, 2024 | 12:45 pm
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Apple Inc. will come under the regulatory oversight of the CFPB for its digital wallet and payment app services, as the agency finalizes a proposal from last year.
The CFPB's decision to supervise Apple Inc. and other tech firms offering digital wallets and payment apps introduces a new regulatory environment. This could impact Apple's operations in this sector, but the immediate stock price impact is uncertain as the market may have anticipated this move.
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