Tag: payments
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CFPB expands oversight of digital payments services including Apple Pay, Cash App, PayPal and Zelle
The Consumer Financial Protection Bureau on Thursday issued a finalized version of a rule saying it will soon supervise nonbank firms that offer financial services likes payments and wallet apps. Tech giants and payments firms that handle at least 50 million transactions annually will fall under the review, which is meant to ensure the newer entrants adhere to the…
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Law enforcement should ‘take a look at’ Elon Musk voter payments
Pennsylvania Gov. Josh Shapiro on Sunday said that tech mogul Elon Musk’s plan to give money to registered voters in Pennsylvania is “deeply concerning” and “it’s something that law enforcement could take a look at” during an interview on NBC News’ “Meet the Press.” Shapiro’s comments come one day after Musk in Pennsylvania announced that…
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Agency increases payments for retirees and beneficiaries
Social Security recipients can expect a 2.5% cost-of-living adjustment (COLA) increase in their payments starting in 2025 amid cooling inflation. It’s the smallest increase since 2021. The amount equates to a top-line figure of approximately $48 more per month, with check amounts rising from $1,920 to $1,968. On Thursday, the Bureau of Labor Statistics reported…