U.S. consumer watchdog eyeing Big Tech, lending competition as recovery unfolds - testimony

WASHINGTON, Oct 26 (Reuters) - The head of the U.S. Consumer Financial Protection Bureau, Rohit Chopra, will tell lawmakers on Wednesday that agency is the mortgage market and aims to minimize foreclosures of American homeowners, according to his prepared testimony.

As he lays out an ambitious agenda before the House Financial Services panel, Chopra will monitor anticompetitive practices and ensure 'greater competitive intensity' in consumer lending.

The agency will also sharpen enforcement focus on firms that repeatedly violate consumer finance laws and better oversee big tech as it gains greater control over money flow raises.

Reporting by Katanga Johnson and Pete Schroeder in Washington, D.C. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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