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#BigTech

Is the CFPB using its market monitoring orders to build enforcement cases?

December 21, 2021 By Consumer Finance Team

As we previously noted, on October 21, the CFPB issued orders to six large technology firms seeking information about their payment product business plans (the “October 21 Orders”). According to the Bureau, the purpose of orders was to “shed light on the business practices of the largest technology companies in the world.” The CFPB’s use […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Dodd-Frank Act Tagged With: #BigTech, #BNPL, #CFPB

Did the CFPB follow PRA requirements in issuing its Big Tech orders?

November 18, 2021 By Consumer Finance Team

On October 21, the CFPB issued a series of orders to “collect information on the business practices of large technology companies operating payments systems in the United States.” The CFPB sent the orders to six companies: Amazon, Apple, Facebook, Google, PayPal, and Square. In a statement accompanying the press release announcing the orders, Director Chopra […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Dodd-Frank Act, Fintech Tagged With: #BigTech, #CFPB, #PRA

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