The Federal Trade Commission has settled with a payment processor and four affiliated entities over allegations that the companies knowingly enabled deceptive merchants, including foreign tech-support operations, to access the U.S. card-payment system. Beyond the $4.85 million monetary judgment, the case is notable for an accompanying Joint Statement from Chairman Andrew Ferguson and Commissioner Mark…

Big Tech companies, fintechs, and traditional financial institutions are paying attention to the Consumer Financial Protection Bureau’s (CFPB) September 2023 issue spotlight, which focuses on tap-to-pay or contactless payment technology. The CFPB’s report highlights the role of Big Tech companies in the mobile payment space.

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