Yes, you are right. The Consumer Financial Protection Bureau (CFPB) has issued new guidelines expanding its oversight of digital payment platforms, including Apple Pay, Cash App, and similar services. This comes as part of an effort by the CFPB to regulate the rapidly growing digital payments industry and ensure these digital financial services are operating fairly, transparently, and abide by the same rules as traditional financial institutions. These new guidelines show the government’s increasing interest in keeping tabs on new financial technologies and could result in more secure and transparent transactions for consumers.
