Antitrust Antitrust

US banks' reliance on small number of cloud, service providers poses resilience, visibility issues, CFPB chief says

US banks’ dependence on a concentrated group of cloud and service providers to which the institutions are outsourcing back-office operations has raised raised regulatory concerns about visibility into these providers’ operations and finances, a US government consumer watchdog’s chief said today.

Rohit Chopra, head of the US Consumer Financial Protection Bureau, also raised doubts

To view the latest version of this document and thousands of others like it, sign-in to MLex or register for a free trial.

Discover MLex

Stay on top of global regulatory developments


Latest News