CFPB reopens inquiry into Big Tech payments platforms

Nov. 01, 2022

The Consumer Financial Protection Bureau reopened the public comment period on its series of orders collecting information on the business practices of large U.S. tech companies that operate payments systems.

Background: The bureau last year sent initial orders to Amazon, Apple, Facebook, Google, PayPal, and Square to help it better understand how these firms use personal payments data and manage data access to users so the bureau can ensure adequate consumer protection.