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Comment: US consumer watchdog Chopra foreshadowed Treasury plans for banks using Big Tech cloud providers

By Neil Roland ( February 9, 2023, 19:55 GMT | Comment) -- Rohit Chopra, head of the US Consumer Financial Protection Bureau, proved to be a bellwether of Biden administration plans released yesterday for addressing risks to banks that outsource cloud computing to large technology companies. The government’s top consumer watchdog spoke in April 2022 of his concerns about these back-office operations, citing provider concentration, lack of transparency, a questionable ability to withstand cyber attacks and other tremors that could ripple through the financial sector.Rohit Chopra, head of the US Consumer Financial Protection Bureau, proved to be a bellwether of Biden administration plans released yesterday for addressing risks to banks that outsource cloud computing to large technology companies....

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