US consumer finance watchdog sued for treating digital wallets like banks
The new December ruling from the US Consumer Financial Protection Bureau impacts payment apps and digital wallets offered by large non-bank companies. Go to Source
CFPB
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CFPB proposes crypto firms refund users for funds lost to hacks
A proposed CFPB rule could allow crypto users to have protections similar to those of US bank account holders by considering the definition of “funds.” Go to Source
CFPB leaves crypto wallets out of ‘Larger Participant’ rule
The agency highlighted consumer and industry comments in a 259-page report detailing the final draft of the “Larger Participants” rule. Go to Source
US consumer watchdog mulls applying e-banking laws to crypto
The head of the U.S. financial consumer watchdog says it’s looking to issue guidance on how crypto could fall into electronic fund transfer laws. Go to Source
Rep. Warren Davidson: Stablecoin bill has ‘outside chance’ of finalizing this year
Earlier this week, new draft legislation on stablecoins came to light aimed at “endogenously collateralized stablecoins.” Go to Source Powered by WPeMatico
‘Two cops on the beat’: Regulator wants sole authority to charter fintech firms
The OCC’s acting head is pushing against the Consumer Financial Protection Bureau’s intention to charter non-depository fintech firms. Go to Source Powered by WPeMatico
