CFPB to Appeal PayPal’s Court Win Against Prepaid Disclosures

The Consumer Financial Protection Bureau plans to appeal a December ruling in favor of PayPal Inc. that invalidated some fee disclosures under the agency’s prepaid card rules.

The CFPB filed a notice Monday to appeal a Dec. 30 ruling by the U.S. District Court for the District of Columbia that said the fee disclosures weren’t relevant to digital wallet products offered by PayPal and its Venmo subsidiary.

Judge Richard J. Leon found the CFPB exceeded its authority by requiring disclosures of ATM fees and other services for digital wallets rather than providing a model disclosure form as mandated by the ...