FILE PHOTO: A smartphone with the PayPal logo is placed on a laptop in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
The proposal marks a long-anticipated and ambitious move by CFPB Director Rohit Chopra to assert the agency's full authority over Big Tech, a sector he has frequently criticized for privacy and competition issues. In a statement on Tuesday, Chopra said the tech sector had expanded into financial services traditionally provided by the closely regulated banking sector.
In a speech last month Chopra said CFPB research had found tech giants collected vast amounts of consumer payments data with few limits, scant transparency and confusing corporate policies, putting consumers at risk of Chinese-style surveillance by the companies.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Big tech can help people be more active “climate game changers”: Google’s chief sustainability officerBig tech has the tools to help all of us cut our emissions. But to be credible, big tech firms also need to work harder in cutting their own large carbon footprints. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »
Big Tech to face tougher rules on targeted political ads in EUBRUSSELS: Big Tech firms will face new European Union rules to clearly label political advertising on their platforms, who paid for it and how much and which elections are being targeted, ahead of important votes in the bloc next year.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Europe urged not to repeat tech underdog role ahead of space talksEurope is being warned not to "miss the train" on the emerging space economy as more than 20 countries gather in Spain, expected to focus on funding for the delayed Ariane 6 rocket as well as climate change and a possible new role in exploration.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Chinese tech mogul not seen in weeks after official probe: ReportsBEIJING: The boss of a leading Chinese livestreaming platform has not been seen in public for weeks, state-run media outlets reported, after an investigation into illegal content on his site.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Wu Jing refuses security escorts for fear of being accused of acting like a big shotThe Chinese action star knows what netizens would say and he's terrified.
Source: TODAYonline - 🏆 1. / 99 Read more »
Ravi Menon: AI can help with surveillance against money laundering'AI may be able to help with strengthening “big-picture surveillance,”' he said
Source: IndependentSG - 🏆 2. / 72 Read more »