On March 26, 2024, the federal and state agencies, CFPB, released agency-specific action statements on tech capacity. According to the CFPB press release, these statements reflect concrete actions to increase tech capacity to help enforce the laws on the book and design remedies that work for consumers, workers, small businesses, and others in the digital era.
According to the statement of CFPB Director Rohit Chopra and Chief Technologist Erie Meyer. the CFPB will be focusing on several goals in the short term, including:
Embedding more technologists across the CFPB’s core functions;
Conducting research and analysis on the application of emerging technologies; and
Advancing competitive marketplaces and assisting law abiding firms.
Read the CFPB’s press release here.
Read the statement from CFPB Director Chopra and Chief Technologist Erie Meyer here.
Read the Federal Trade Commission’s statement here.