Examining the Larger Participants in Payments Rule

In the Consumer Financial Protection Bureau's regulatory agenda, the Bureau signaled its intent to regulate larger participants in payments. A proposed rule should be issued in July. In this session speakers discuss the current trend of CFPB supervision and why the CFPB is proposing this rule, the influence of substantive law governing some aspects of payments, the implication of CFPB examinations of payments companies for the development of the law or regulatory expectations in relation to Regulation E, and how the CFPB may use UDAAP in the payments space to drive sought-after industry changes or remediation, along with an analysis of the rule.