Chief consumer finance watchdog Rohit Chopra told U.S. lawmakers his agency will review Big Tech's impact on the flow of money in the economy as leading technology firms use real-time consumer payments systems that collect huge amounts of personal data. Chopra, head of the Consumer Financial Protection Bureau (CFPB), said Big Tech's entrance into the payment sector raises questions, including: "How will these firms harvest and monetize data they collect on our transactions? What criteria will they use to decide who is removed from the platform? How will they ensure that payment systems adhere to consumer protections?"
Read the article: Reuters
