Skip to main content

Defining Larger Participants of a Market for General-Use Digital Consumer Payment Application

The Consumer Financial Protection Bureau (CFPB) proposes a rule to define a market for general-use digital consumer payment applications. The proposed market would cover providers of funds transfer and wallet functionalities through digital applications for consumers’ general use in making payments to other persons for personal, family, or household purposes. Larger participants of this market would be subject to the CFPB’s supervisory authority under the Consumer Financial Protection Act (CFPA).

Notice and Request for Comment

Read it in the Federal Register

View PDF