Judge Sides With PayPal in CFPB Lawsuit Regarding Digital Wallets

PayPal won a legal victory against the U.S. consumer protection watchdog.According to court documents cited in a Friday (March 29) Law 360 report, U.S. District Judge Richard J. Leon tossed out an aspect of the so-called “prepaid rule” for digital wallets that went into effect five years ago and became the center of PayPal’s case against the Consumer Financial Protection Bureau (CFPB).In doing so, the report said, the judge agreed with PayPal that the CFPB “had no rational justification” for placing digital ...