Original Content
Final rule to establish CFPB authority to supervise and examine larger participants of a market for general-use digital consumer payment applications (funds transfer apps and digital payment wallets.)
Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications
AI Summary
Final rule grants the CFPB authority to supervise and examine larger participants in the market for general-use digital consumer payment applications; no explicit action items or deadlines are mentioned.
Texas Relevance
The article does not mention Texas, TCUD, or any Texas-specific entities. It is a general federal regulation applicable to all credit unions.