AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content.
The U.S. Consumer Financial Protection Bureau is reportedly set to launch a probe into the consumer data and financial practices at Apple, Amazon, Google, Facebook, and other big tech companies.
According to The Wall Street Journal, the CFPB is seeking information on how the Big Tech companies use consumers’ financial and other information. Orders are expected to be sent out to the firms on Thursday.
Sources familiar with the move told The Wall Street Journal that the agency’s questions will be broad in scope, and could include inquiries about how consumer data collected by the companies is used in lending decisions or how consumer data is used to target ads.
In addition, the bureau is also expected to seek public comment on the matter.
Along with Apple, Amazon, Google, and Facebook, the CFPB probe is also expected to target Square and PayPal. All of the companies are either engaged in consumer-facing financial services, or plan to expand into that sector.
The probe is only the latest move by the U.S. government scrutinizing Silicon Valley tech giants. The House of Representatives, for example, is considering a sweeping legislative package meant to curb the power of Big Tech. Those bills were put forth in the House after a monthslong investigation into the competitive landscape of the technology industry.
In the Senate, there have been similar moves to introduce legislation meant to rein in Silicon Valley. Back in August, the Senate introduced a bill targeting the Apple App Store and the Google Play Store.
Under President Joe Biden, a number of Big Tech skeptics have also been appointed to key antitrust enforcement positions. That includes Lina Khan, the current chair of the Federal Trade Commission and a legal scholar who has researched technology markets.
