Consumer agency to probe tech giants including Apple, Facebook

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Consumer Financial Protection Bureau is expected to seek information on how those firms and others use consumers' financial information
Big tech companies are about to face questions from the government on another front: how they use consumers' financial and other information.

The Consumer Financial Protection Bureau is poised to examine consumer data practices at Amazon.com Inc., Apple Inc., Alphabet Inc.'s Google and Facebook Inc. and other firms, according to people familiar with the matter. The move would open a new front in Washington's scrutiny of the firms.

The bureau is expected Thursday to issue orders seeking information from the companies, the people said. All of the companies are engaged in consumer-facing financial services or have ambitions to expand in that sector.

A CFPB spokesman declined to comment.

The questions from the agency will be broad in scope, the people said. They will likely range from inquiries about how consumer data that flows through the companies is used in lending decisions to how data determines what ads consumers are shown, the people said. In all, the companies are expected to face demands to answer dozens of questions while the bureau also seeks public comment on the requests, the people said.

The action by the CFPB is the latest move by the Biden administration to scrutinize big technology companies. It has appointed individuals who say lax antitrust enforcement, especially in…
WSJ
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