Payments News

Regulation

A Tougher CFPB Wants to Be Big Tech’s Financial Watchdog

“Less than two months into his tenure as CFPB director, Rohit Chopra, who was formerly with the Federal Trade Commission, is laying the groundwork for greater scrutiny of Amazon.com , Apple , Facebook parent Meta Platforms , Google parent Alphabet , and other technology giants. The industry has been moving into consumer payments and other businesses traditionally dominated by banks and other financial-services companies.”