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

FILE PHOTO: Signage is seen at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew Kelly

WASHINGTON (Reuters) -The head of the U.S. Consumer Financial Protection Bureau (CFPB), Rohit Chopra, will tell lawmakers on Wednesday the agency seeks to minimize foreclosures on struggling American homeowners and ensure "greater competitive intensity" in consumer lending, according to his prepared testimony.

The agency will also aim to scrutinize Big Tech as it gains greater control over money flows and will sharpen its enforcement focus on firms that repeatedly violate consumer finance laws.