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 extended the comment deadline on a request for information on (i) the business practices of data brokers and (ii) the collection and sale of consumer information. The new comment deadline is July 15, 2023.
The CFPB is seeking comment on the business practices of data brokers and the collection and sale of consumer information.
The CFPB reminded companies to comply with federal consumer financial protection laws when offering "negative option" programs or subscription services.
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.