Trade groups TechNet and NetChoice have filed suit against the US Consumer Financial Protection Bureau (CFPB). TechNet’s members include Apple, Block, Google and Visa. NetChoice members include Alibaba, Amazon, eBay and PayPal. TechNet and NetChoice insist that when it created the CFPB, Congress did not authorize the agency to oversee nonbanks that offer consumer financial services, including payment apps and digital wallets such as those available from Apple, Google and PayPal’s Venmo. Their 136-page complaint takes aim at the CFPB’s final rule for 12 CFR Part 1090 that defines large...