PayPal, the leader in online wallet payments, has filed a suit against the US Consumer Financial Protection Bureau (CFPB) over new rules requiring overly strict and constraining reporting for its digital wallets. Complaints of Unnecessary Reporting The CFPB has announced a campaign to regulate so-called prepaid cards, to avoid money laundering. In the lawsuit, filed with the United States District Court for the District of Columbia, PayPal claims the rules for prepaid cards have been
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