The CFPB reopened the comment period for an inquiry into
how Amazon, Apple, Facebook, Google, PayPal and Square use personal
payments data and manage data access. Comments from any party on
the inquiry into the technology companies must be submitted by
December 21, 2021.
- their payment products, data harvesting (i.e., data
collected on consumers’ use of the product) and how the company
monetizes product data;
- access restrictions, consumer and commercial user eligibility,
and product-use metrics, including the handling of complaints;
- descriptions of their consumer protections in place, including
disclosures about data practices and the monitoring of fraudulent
activity in their products.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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