CFPB Director Chopra Raises Concerns Over Big Tech's Growing Role in Finance

Supreme Court heard payday lender case this week; decision expected next year but CFPB continues its work

CFPB Director Chopra concerned about big tech and payment systems steering consumers; wants separation of banking and commercial activities

Chopra looking at potential new regulations around tech companies creating own currencies and "trafficking fraud"

Chopra sees US payment system becoming more like China's, fueled by surveillance and censorship

Chopra concerned about stability of private "stablecoins" like Tether; regulators need more transparency into what backs them