Testifying before the Senate Banking Committee today, CFPB Director Rohit Chopra said that companies using discriminatory algorithms will need to be held accountable.
Stimulating “competitive intensity” in consumer financial markets will be a key priority for the CFPB under the leadership of Rohit Chopra, who was sworn in as director earlier this month.
President Biden today issued a wide-ranging executive order on competition issues across the U.S. economy.
Noting the rapid technological transformation of financial services, the Justice Department’s Antitrust Division today requested public comments on whether and how it should revise its guidelines—virtually unchanged since 1995—for reviewing the competitive effects of bank mergers.
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