October 06, 2023
Consumer watchdog wants expanded oversight of payments
The director of the Consumer Financial Protection Bureau told an audience Friday that the agency was preparing fresh guidance, a proposed rule and other measures to strengthen federal oversight of the U.S. payment system.
The speech from CFPB Director Rohit Chopra focused on the existing legal fuzziness between banks and commercial firms when it comes to processing payments, particularly related to “private digital dollars” and other virtual currencies.
Brilliant new ideas can come from everywhere. That’s why we invest heavily in STEM education, helping build a career-ready, diverse talent pipeline to tackle tomorrow’s most complex challenges. Learn more at RTX.com