The CFPB has posed dozens of questions to the industry, consumer advocates, academics, and other governmental agencies on ways to use mobile-financial services to increase access and promote prudent personal finance by under-served Americans such as those with low incomes, persons with disabilities, the elderly, and immigrants. The thrust of the Bureau’s inquiry focuses on ways to build on recent mobile offerings to meet the needs of these groups. This may reflect the fact that the CFPB’s jurisdiction is principally consumer protection.
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