Tech trade groups NetChoice and TechNet sue CFPB for its efforts to regulate digital payment apps like Apple Pay, Google Wallet, and Venmo more like banks
Today, NetChoice joined @TechNetUpdate in a new lawsuit to protect consumers, businesses and innovation from the Consumer Financial Protection Bureau [image] Chris Marchese / @chrismarchese9 : Incredibly proud to join @TechNetUpdate in challenging the CFPB's unlawful power grab. The rule of law's coming for you, administrative state. Krista Chavez / @kristaachavez : Biden's tenure has been marked with many examples of bureaucratic overreach. Today, @NetChoice joined @technetupdate to stop the CFPB's attempts to seize power not delegated to it by Congress over digital payments and wallets, consolidating government control over one of the Vance Ginn / @vanceginn : Glad to see this as the actions by Biden's CFPB are destructive for Americans. @technetupdate : TODAY: TechNet's Innovation Legal Center and @NetChoice have filed suit against the Consumer Financial Protection Bureau's larger participant rule, challenging its overreach into fintech innovation. Read more: https://www.technet.org/...