Banks Push for US Regulators to Oversee Cloud Providers

Major banks are voicing concerns about the systemic risks posed by cloud giants. The tech companies are now integral to financial infrastructure, making any service disruption a potential global financial crisis. Banks are urging US regulators to step in. The EU and UK have already begun supervising cloud providers, while the US lags behind, maintaining banks' responsibility for risk management.
Read more about risks & challenges, the EU, UK & US approach, and Cloud Provider Perspective.