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Apple to be treated like a bank – Consumer Financial Protection Bureau

The popularity of Apple Pay will now see the Cupertino company regulated by the US Consumer Financial Protection Bureau (CFPB), a watchdog whose role is normally limited to banks and financial services companies. The decision means that the bureau will have the power to monitor and regulate Apple’s policies and practices in regard to its mobile wallet services … The Consumer Financial Protection Bureau The CFPB is a US agency responsible for enforcing federal consumer financial law, but also has...

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