** The Consumer Financial Protection Bureau (CFPB) has expanded its oversight of digital payments services, including Apple Pay, Cash App, and PayPal. The new rule subjects nonbank firms that handle at least 50 million transactions annually to "proactive examinations" to ensure compliance with consumer protection laws.

This move aims to protect consumer privacy, prevent fraud, and enforce fair business practices in the rapidly growing digital payment industry. Tech giants like Apple, Google, Amazon, and fintech companies like PayPal will be subject to regular scrutiny.

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Source: https://www.cnbc.com/2024/11/21/cfpb-expands-oversight-of-apple-pay-other-digital-payments-services.html