The CFPB asserted that restrictions imposed by dominant operating systems on point-of-sale payment methods may have an "outsized effect" and hurt the development of a "truly open ecosystem."
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The CFPB reopened the comment period on a Request for Information issued to Amazon, Apple, Facebook, Google, PayPal and Square regarding how each firm uses personal payment data and manages data access.
The FTC charged a retail corporation with failing to take appropriate and effective measures in a timely fashion to detect and prevent fraud in the processing of money transfers sent and received by consumers at store locations.
The CFPB ordered five companies to provide information regarding their "buy now, pay later" credit programs. The CFPB expects to publish findings on the risks of these programs concerning accumulation of debt, regulatory arbitrage and data harvesting.
The CFPB reopened the comment period for an inquiry into how Amazon, Apple, Facebook, Google, PayPal and Square use personal payments data and manage data access.