U.S. oversight of Big Tech financial services is fragmented. The CFPB rule would toughen up supervision, requiring Big Tech to comply with its rules on privacy protections, executives' conduct and unfair and deceptive practices. Without regulatory scrutiny, they could leverage their growing dominance of consumer payments to capture other services like lending and card issuing, analysts said. 'LEG UP'Representatives for Big Tech have accused the CFPB of trying to protect traditional lenders. While Big Tech companies have deep pockets and plenty of resources to handle the new scrutiny, the rule could limit how they use and protect consumer data.

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Persons: Dado Ruvic, Rohit Chopra, Todd Phillips, Dodd, Frank, It's, Paige Pidano Paridon, Chopra, John Coleman, Hannah Lang, Stephen Nellis, Michelle Price, Richard Chang Organizations: Apple, REUTERS, Wall, Big Tech, Consumer Financial Protection Bureau, Google, Georgia State University, PayPal, Federal, McKinsey, Bank, BPI, Banks, Representatives, Big, Herrington, Thomson Locations: U.S, Washington