US watchdog wants Apple Pay regulated like a bank

The US Consumer Financial Protection Bureau has proposed that digital wallets such as Apple Pay should be regulated, and currently lack safeguards.Apple Pay on an Apple WatchThe Consumer Financial Protection Bureau (CFPB) has been investigating Big Tech's digital wallets, including a 'very careful look' at services such as Apple Pay Later. It's now proposing that 17 firms from Apple and Google, to PayPal and Block's CashApp, should be subject to supervision. Read more...