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

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Neil Roland

Senior Correspondent


Neil has covered U.S. financial regulation for over two decades, mostly for Bloomberg and Crain Communications. He received a Loeb award for coverage of regulators' response to the collapse of Enron. He also garnered a SABEW award and some Jesse H. Neal awards for stories on the Federal Reserve's response to the 2008 financial crisis. Roland has appeared as a commentator on Fox TV, NPR, C-Span and Bloomberg TV. He received a Master's degree in public policy from Harvard and a Bachelors degree in economics from Cornell.

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