CFPB to Appeal PayPal’s Second Digital Wallet Disclosure Win

The Consumer Financial Protection Bureau is appealing a federal judge’s ruling that standardized short-form fee disclosures shouldn’t apply to digital wallet providers such as PayPal Holdings Inc.

Judge Richard J. Leon of the US District Court for the District of Columbia ruled against the CFPB in March, the second time PayPal succeeded in escaping the agency’s prepaid card rules.

The CFPB filed a notice of appeal of the most recent decision on Friday, marking the second time its 2019 prepaid card rule has made its way to the US Court of Appeals for the District of Columbia.

Leon ruled in ...