In the Headlines
April 11, 2025
Washington Won't Be Watching Over Your Digital Wallet
Yahoo Finance
Financial Services attorney Eamonn Moran was quoted in a Yahoo Finance article discussing the recent congressional votes to eliminate federal rules on digital payment app oversight and bank overdraft fees. The Congressional Review Act (CRA) disapproval resolutions halt regulations issued toward the end of the Biden Administration by the Consumer Financial Protection Bureau (CFPB) that aimed to enhance scrutiny of tech companies such as Venmo and PayPal. Mr. Moran noted the uncertain impact of Congress' move, given current holds on the agency's work.
"Especially after the election results, there was a sense that even if the bureau kept this rule on its books, they may not have even really done anything with it," he said.
READ: Washington Won't Be Watching Over Your Digital Wallet
"Especially after the election results, there was a sense that even if the bureau kept this rule on its books, they may not have even really done anything with it," he said.
READ: Washington Won't Be Watching Over Your Digital Wallet