AdvtAdvtJoin the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. They are getting hit from a lot of different places," said Todd Phillips, a professor at Georgia State University. oversight of Big Tech financial services is fragmented. "Silicon Valley is already a major part of the financial marketplace," the CFPB said in a statement. The CFPB has also expressed concern that tech companies could be monetizing customer data and compromising user privacy.According to McKinsey research cited by the CFPB, big tech companies, by some measures, have surpassed regional and community banks in terms of consumer trust related to digital payments.

Source: Economic Times November 18, 2023 02:43 UTC