WASHINGTON: Chief consumer finance watchdog Rohit Chopra told US lawmakers on Wednesday (Oct 27) his agency will investigate 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 said Big Tech's entrance into the payment sector raises questions including: "How will these firms harvest and monetise 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?"The Consumer Financial Protection Bureau (CFPB) will also aim to minimise foreclosures on struggling American homeowners and make consumer lending