Oct 6 - The top U.S. agency for consumer financial protection is considering regulatory moves to help protect the public from the kind of excessive surveillance of their financial data enabled by payment structures in China, its director said on Friday.
The agency will also release a much anticipated regulatory proposal later this month on consumers' control of their banking data, keeping to a previously announced schedule, Chopra said. The CFPB will also consider the use of legal authorities allowing it to directly supervise non-bank financial institutions that offer consumer payment platforms, particularly when these are services provided to large financial institutions, he added.
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: