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FTC Cracks Down on Two Payment Processing Companies
Original: Calling payment processors ‘crucial intermediaries between businesses and consumers,’ FTC cracks down on two companies
The Federal Trade Commission has taken enforcement action against two payment processing companies, describing payment processors as crucial intermediaries between businesses and consumers. The move signals heightened regulatory scrutiny of firms that handle transactions on behalf of merchants, with the agency focusing on how these companies treat the businesses and consumers that depend on them. Details of the specific companies and allegations were not immediately available.
Why now: The FTC's enforcement action against payment processors signals increased regulatory scrutiny of the payments industry.
Evidence
- Calling payment processors ‘crucial intermediaries between businesses and consumers,’ FTC cracks down on two companies · Consumer Finance Monitor
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