Tech groups sue U.S. CFPB to block rule on Apple Pay, Apple Wallet, and other payment apps, digital wallets

Two technology trade groups, NetChoice and TechNet, filed a lawsuit Thursday against the U.S. Consumer Financial Protection Bureau (CFPB), seeking to block a new rule granting the agency supervisory power over payment apps and digital wallets offered by large non-bank entities. The groups argue that Congress did not authorize the CFPB to aggressively an…