CFPB seeks input on privacy and surveillance in digital payments

What changed

The CFPB requested public input on collection, use, sharing, protection, and monetization of consumer payment and other financial data, including payment-platform surveillance, personalized pricing, Regulation P notices and opt-outs, and routine monitoring. The notice expressly discussed stablecoins and other digital currencies; it did not itself change law.

Who it affects

• Payment and wallet providers
• Stablecoin and other digital-currency platforms with consumer payment use cases
• Financial institutions and fintech data recipients
• Advisers whose client portals or vendors access payment data

What is still open

• Whether the CFPB will pursue Regulation P, privacy, supervision, or enforcement changes based on the record
• How leadership changes and related withdrawn payment-mechanism guidance affect future action

What it means for an advisor

• Inventory payment-data collection and vendor sharing, privacy notices, opt-out mechanics, secondary uses, personalized pricing, retention, security, and complaint handling while treating the RFI as nonbinding.