Google sues to stop the US from monitoring it like a bank
The Consumer Financial Protection Bureau (CFPB) announced on Friday it had placed Google Payment Corp. under federal supervision, reports Reuters. Google reportedly filed a lawsuit to block the CFPB’s order, which could result in routine inspections and monitoring like those imposed on banks.
The agency found that Google’s error resolution and fraud prevention processes pose risks to consumers, citing consumer complaints about Google Pay Balance and Google’s peer-to-peer payments. Those complaints, which Google’s lawsuit claims are “unsubstantiated,” according to The Washington Post, include that the company didn’t seem to fully investigate fraudulent charges and didn’t “adequately explain” the results of those investigations.
The CFPB says its finding that Google should be supervised doesn’t mean the company is “guilty of wrongdoing.” It also notes in its order that Google Pay and the P2P platform were discontinued earlier this year.
Google spokesperson José Castañeda provided a statement to The Verge:
This is a clear case of government overreach involving Google Pay peer-to-peer payments, which never raised risks and is no longer provided in the U.S., and we are challenging it in court.
Update December 7th: Added statement from Google spokesperson José Castañeda.
The Consumer Financial Protection Bureau (CFPB) announced on Friday it had placed Google Payment Corp. under federal supervision, reports Reuters. Google reportedly filed a lawsuit to block the CFPB’s order, which could result in routine inspections and monitoring like those imposed on banks. The agency found that Google’s error resolution…
Recent Posts
- Amazon develops a warehouse robot workers can speak to
- This App Makes Google TV Actually Usable
- Google Wallet ID passes will be available in select EU states this summer
- Shokz upgraded its open earbuds with better sound and a lighter design
- Shokz says its clip-on OpenDots 2 earbuds focus on improved volume and bass
Archives
- June 2026
- May 2026
- April 2026
- March 2026
- February 2026
- January 2026
- December 2025
- November 2025
- October 2025
- September 2025
- August 2025
- July 2025
- June 2025
- May 2025
- April 2025
- March 2025
- February 2025
- January 2025
- December 2024
- November 2024
- October 2024
- September 2024
- August 2024
- July 2024
- June 2024
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023