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flag The CFPB introduces new rules for large digital payment firms, facing legal challenges from tech companies.

flag The Consumer Financial Protection Bureau (CFPB) has set new rules to oversee major digital payment companies, including those processing over 50 million transactions annually, to protect consumers from risks like unauthorized fees and privacy issues. flag However, trade groups representing tech giants like Apple, Google, and PayPal have sued the CFPB, arguing the agency oversteps its authority and risks stifling innovation. flag The lawsuit seeks to invalidate the new rule, potentially altering the regulatory landscape for digital payments.

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