Google sues Consumer Financial Protection Bureau

Google is suing the Consumer Financial Protection Bureau (CFPB) over its decision to place Google Payment Corp. under federal supervision.

The lawsuit, filed in Washington, DC, argues that the CFPB’s oversight is based on unsubstantiated user complaints regarding a discontinued peer-to-peer payment product.

Google claims the CFPB’s action is an overreach, as the product is no longer offered in the U.S. and posed no risks to users.

The CFPB, however, maintains that its supervision is warranted to ensure compliance with consumer financial laws.

Google argues the CFPB’s action sets an overly low bar for consumer risk, CNN has reported.

read more: https://www.cnn.com/2024/12/06/business/google-pay-lawsuit-cfpb/index.html

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