The rule covers payment services from Apple, Google and Amazon, as well as firms including PayPal and Block, and will cover peer-to-peer services Venmo and Zelle. The apps covered by the new rule process more than 13 billion consumer payments a year,

Out-of-Pocket Losses: Users can submit a claim that shows their Cash App account was involved in the data breach. If a user is eligible for a reimbursement, after submitting the required documentation to the company they could receive up to $2,500.

Cash App users whose accounts were recently compromised have less than a week to file a claim and receive up to $2,500 in a lawsuit settlement payout. The deadline to file is November 18, 2024, and you’re eligible for the payout if both of these hold true for you: you had a functional Cash App account between August 23,

The new rule is meant to ensure digital payment providers adhere to the same laws as credit unions and large banks. It will give the CFPB the authority to oversee their compliance

Some digital services look like banks and act like banks, but aren’t banks -- meaning they can, for instance, close down your account without notice. Or

The most popular apps covered by the rule collectively process more than 13 billion consumer payments a year, the CFPB said.

The CFPB announced that digital payment platforms processing over 50 million transactions annually will face federal supervision 30 days after publication in the Federal Register. Apple Pay is a widely used U.