

The Consumer Financial Protection Bureau (CFPB) is intensifying its regulatory scrutiny of major technology firms, including Google and Meta, as part of a broader initiative to oversee digital payment providers. This move follows the introduction of the new CFPB Larger Participant Rule, which aims to enhance oversight of significant players in the digital payments sector. Additionally, U.S. lawmakers are pressing Visa and Mastercard regarding their opposition to the Credit Card Competition Act, suggesting a shift in the competitive landscape for credit card transactions. In related news, UK regulators have finalized rules governing critical third parties in the financial sector, while the EU has introduced a comprehensive Product Liability Directive and published the Cyber Resilience Act, aimed at bolstering cybersecurity for businesses.