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Washington won't be watching over your digital wallet [Yahoo! Finance Canada]
Last paypal holdings, inc. earnings: 1/29 04:15 pm
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US:NASDAQ Investor Relations: investor.paypal-corp.com
The so-called disapproval resolutions were passed under the Congressional Review Act, which allows lawmakers to reverse recently finalized regulations. The resolutions were already backed by the Senate last month. President Trump is expected to sign them soon. GOP lawmakers had criticized the regulations as last-minute “midnight rulemakings” that would limit choices for consumers and overly burden companies. Erosion of oversight for financial tech companies The demise of the digital payments rule is a win for big tech companies that, in theory, could have faced stricter oversight from the federal government's top consumer watchdog. It will also mean fewer eyes keeping tabs on some of the world's most popular payment apps. Finalized in November, the rule would have cemented the CFPB's power to supervise online payment services the same way it monitors large banks, allowing the agency to proactively comb through their internal records and interview employees to make sure firms
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