PayPal's Court Win Spotlights Continuing Evolution of Digital Wallets

The legal dust-up between PayPal and the Consumer Financial Protection Bureau (CFPB) over digital wallets has notched a win in PayPal’s favor.As reported this week, U.S. District Judge Richard J. Leon ruled that the CFPB “had no rational justification” for placing digital wallets under the rule’s “short-form” fee disclosure requirements.Per the ruling, and as PYMNTS detailed, unlike other products, “digital wallets are not primarily used to access funds or to function as a substitute checking account,” Leon ...