The top US consumer watchdog will supervise Apple Inc. and other major technology firms that offer digital wallets and payment apps, finalizing a proposal from last year with several changes.

New rules will let the CFPB supervise Apple Pay and other major players to protect consumers from fraud, privacy breaches, and surprise closures. Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule to supervise the largest nonbank companies offering digital funds transfer and payment wallet apps,

Regulatory supervision will involve detailed scrutiny to ensure compliance with federal law, a process banks routinely undergo.