The trade groups argue that Congress did not empower CFPB to supervise large non-banks offering consumer financial services.

Two technology trade groups sued the U.S. Consumer Financial Protection Bureau on Thursday to block a new rule giving the regulator supervisory authority over payment apps and digital wallets from large non-banks.

The Consumer Financial Protection Bureau is suing Capital One for allegedly misleading customers about its high-yield savings account options and cheating them out of close to $2 billion in interest.

NetChoice and TechNet are challenging the bureau’s effort to oversee compliance with federal fraud and privacy laws by Apple Pay, Google Wallet, Cash App, Venmo, and others.