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The US Consumer Financial Protection Bureau will now regulate Apple Pay, Venmo and others

It provides greater supervision options for the CFPB.

The US Consumer Financial Protection Bureau (CFPB) is no longer regulating just banks, now supervising Apple and other companies offering digital wallets and payment apps. "Supervision also is an important tool for the CFPB to assess risks that can emerge rapidly in this market, including from outages and other issues that could lead to millions of consumers losing access to their funds." The rule will help to protect consumer privacy, guard against fraud, and prevent illegal account closures," said CFPB Director Rohit Chopra.

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