Update regarding the BrightSpeed payment processor case

A&B ABstract: The CFPB has recently asserted extraordinary authority to make any payment processor monitor the activities of any merchant for which it processes payments, even if that merchant does not provide consumer financial products or services. Does its argument hold up? The CFPB’s Complaint Against BrightSpeed On March 3, 2021, the Bureau of Consumer […]

The post Third Party Payment Processors as ‘Covered Persons’: A Return to CFPB Regulation by Enforcement? appeared first on Alston & Bird Consumer Finance ABstract.