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U.S. consumer watchdog orders tech giants turn over information on payment systems

WASHINGTON (Reuters) – The Consumer Financial Protection Bureau (CFPB) on Thursday said it has issued a series of orders to tech giants to turn over information on their payment system plans in an effort to ensure adequate consumer protection.

The consumer watchdog said it has sent initial orders to Amazon, Apple, Facebook, Google, PayPal, and Square. The Bureau will also be studying the payment system practices of Chinese tech giants, including Alipay and WeChat Pay, the CFPB said in a statement.

(Reporting by Chris Prentice, Editing by Franklin Paul)



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