Sen. Blumenhal asks Visa for records of its payments deal with elon musk’s x

Sen. Richard blumeenthal This weekly pressed Visa For detailed plans and documents related to its deal to provide payments services to Elon musk‘S social media site, x, as it prepares to launch a digital wallet.

BLUMENTHAL, A Democrat from Connecticut and the ranking Member of the senate’s permanent subcommittee on Investigations, pointed to Musk’s Role in Hobbling The Consumer Financial Protection Bureau – The Consumer Watchdog that would be a keey regulator of the X Money Regulator of the X Money Regulator of the As Among the Reasons for the Information Request, According to a March 6 Letter Obtained by CNBC.

“Given the unique position of X Chairman and Chief Technology Officer Elon Musk as Leader of the Department of Government of Government Efficiency and His Recent Role in Guutting The Consumer Financical Protense Bureauo… Visa Stands Take advantage of the Deep Conflicts of Interest and Unscrupulous Conduct of its new business partner, “Blumented Wrote.

The senate request is one of the first signs of scrutiny on visa, which runs the world’s largest credit card network, after a late January announsement That it has agreed to power peer-to-peer payments on x. Days after the deal was disclosed, operants from musk’s department of government Efficiency Gaincy Gained Accsses to CFPB DATA DATA SYSTEMS Accusations that musk wanted to kneecap a future regulator and that he Cold Steal Trade secrets of competitors to his nascent x money service.

The Letter, Addressed to Visa Ceo Ryan McinerneyAlso Cast Doubts About Whether a Social Media Network Known For “Bots, Scams and Hate Speech” WOLLE BE AAPLE to Prevent Scams and FROUD FROM PROLIFERATING on the site. Musk purchased the site in 2022, when it was known as Twitter.

“These Concerns Raise Questions About X’s Ability to Protect Consures from fraud and scams as it ventures into the financial sector,” Blumenhal Wrote.

“As the largest payment processor in the world, visa has a legal responsibility to ensure its network is free of financial crime such as scams and fraud, money-lundering, money-lundering, Terrorist Financing, and Terrorist Financing, and Terror He said.

Blumenhal asked for a detailed description of Visa’s plans to enable payments on x, include the business model of the service and visa’s lives with regulatory requires Laundering and illicit remittans.

He Also Pressed Visa for “All Records” Related to the Deal and Communications Between X, Visa, Doge and CFPB Personnel.

REPRESENTIVES For Visa and X Didn Bollywood have comment.