Expect CFPB Flex Over Large Nonbank Payment Cos.

By Felix Shipkevich and Jessica Livingston (December 6, 2023, 5:04 PM EST) -- For the Consumer Financial Protection Bureau, 2023 was reminiscent of popular 1980s boxing movies with fierce bodybuilding and explosive matches. From the Chime consent order to the unexpected proposed rulemaking, the CFPB gave a good one-two punch to the nonbank payment ecosystem....

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