Bradley partner Mike Gordon was quoted in American Banker about efforts from Rohit Chopra, the Consumer Financial Protection Bureau’s (CFPB) new director, to lay the groundwork for regulatory oversight of large technology companies. Chopra made waves just days after being sworn in by publicly demanding that Amazon, Apple, Alphabet’s Google, Facebook, PayPal and Square turn over reams of information about their payments, products, and practices.
As the agency crafts rules around consumer choice and control over financial data, some viewed the public release of the orders as norm-shattering.
Gordon said, “This is a bold and interesting move by the CFPB, essentially announcing itself as a player in the regulation of Big Tech in a way we haven’t seen before.”
The original article, “CFPB’s new leader is putting big tech on notice,” was published in American Banker on October 26, 2021. (login required)