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Led by Sens. Chris Van Hollen and Cory Booker, the Democrats asked Chopra to “act with urgency to finalize this rule.”

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.

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Presented by The Coalition to Project American Jobs

It’s taking the IRS years to process a small business tax credit. 1M+ small business owners who filed for the Employee Retention Credit are stuck in backlog or waiting on payment for their claims. Tell the IRS to lift the moratorium now.

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