By Katanga Johnson

WASHINGTON, (Reuters) – The Director of the U.S. Consumer Financial Protection Bureau Rohit Chopra (CFPB), will inform Congress on Tuesday that the agency would propose in a “timely manner” a measure regarding open banking data and small-business lending data. This testimony was published on a Congressional website.

Chopra, who is a consumer watchdog at the U.S. Senate Banking Committee will present the most recent scrutiny on the privacy and discrimination that dominant tech conglomerates are posing to the market due to their large influence.

He will identify and discuss the agency’s current efforts in competition. This includes a plan to launch other initiatives that aim to lower entry barriers, increase the number of firms competing for clients based on price, quality and service.