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PODCAST · 23 NOVEMBER 2023

CFPB Issues Proposed Rule To Expand Supervisory Authority (Podcast)

Kelley Drye & Warren LLP
Kelley Drye & Warren LLP
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Kelley Drye & Warren LLP

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Yesterday, the Consumer Financial Protection Bureau (CFPB) released a notice of proposed rulemaking that would allow the agency to supervise and conduct examinations of certain non-bank providers...

United StatesFinance and Banking
Donnelly L. McDowell
Donnelly L. McDowell
Matthew Luzadder
Matthew Luzadder
Alexander Schneider
Alexander Schneider

Kelley Drye Ad Law Access Podcast · CFPB Issues Proposed Rule to Expand Supervisory Authority

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Yesterday, the Consumer Financial Protection Bureau (CFPB) released a notice of proposed rulemaking that would allow the agency to supervise and conduct examinations of certain non-bank providers of digital wallets and payment apps. The move is intended to address perceived "regulatory arbitrage by ensuring large technology firms and other nonbank payments companies are subjected to appropriate oversight," according to CFPB Director Rohit Chopra.

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