United States: CFPB Proposes Rule Defining Larger Participants Of A Market For General-Use Digital Consumer Payment Applications - Schulte Roth & Zabel LLP

United States: CFPB Proposes Rule Defining Larger Participants Of A Market For General-Use Digital Consumer Payment Applications - Schulte Roth & Zabel LLP

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On Nov. 7, 2023, the Consumer Financial Protection Bureau ("CFPB") issued a proposed rule ("Proposed Rule") which would establish the CFPB's supervisory authority over nonbank covered persons that are larger participants in the market for general-use digital consumer payment applications.

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