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So this can be a proposal from the CFP B yesterday, mainly, uh attempting to deal with non-bank uh fee suppliers uh app suppliers, for instance, uh equally to banks is, you recognize, type of how the uh doc that describes it. So mainly placing uh ensuring that you’ve got the identical guidelines type of making use of to I, you recognize, it did not identify them, however a footnote steered firms like paypal with Venmo uh block with the money app uh firms like that, ensuring that they are working below the identical type of, you recognize, common oversight guidelines that you simply may see massive monetary establishments and banks uh working below. And um you recognize, as a part of that, they had been type of defining, you recognize, how they’re taking a look at these. So what they’re doing is creating this sort of definition of a shopper fee uh that would come with, you recognize, funds inside households to different individuals uh strictly, you recognize, not essentially issues which can be meant for business functions. So, uh you recognize, I feel, for instance, um you recognize, if I am shopping for a pizza and I am utilizing Venmo to pay somebody again for it, that appears to be the type of transaction that may be lined, a few of transactions due to this fact may get caught up in that below simply how they’re defining the phrases.
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