- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Joe Mont looks at new CFPB rules for prepaid financial products—including innovative online and mobile offerings from PayPal, Google, and Apple—that will require enhanced customer protections.
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A successful legal challenge against the constitutionality of the CFPB doesn’t mean it will go away anytime soon. It should, however, prompt companies to rethink dealings with the agency. Joe Mont has more.
Data brokers have been getting away with selling Americans’ personal and financial data without adequate protections, an illegal practice that a new rule proposed by the Consumer Financial Protection Bureau will intend to stop, CFPB Director Rohit Chopra said.
Big Tech digital payment apps will be subjected to increased oversight and requirements–similar to that of banks and credit unions–under a finalized rule by the Consumer Financial Protection Bureau.
