Google Clashes with Consumer Watchdog: Alleges Overreach in Payment Supervision Case
Washington, D.C. — In a contentious move, Alphabet Inc.’s Google Payment has found itself under the stringent oversight of the Consumer Financial Protection Bureau (CFPB), escalating tensions between the tech giant and the regulatory body. The CFPB, asserting its powers, declared that it possesses “reasonable cause” to scrutinize Google Payment, citing potential risks to consumer rights and security, which has swiftly triggered a lawsuit from Google challenging the assertion of regulatory overreach. Alphabet, the parent company of Google which is listed under the NASDAQ symbols GOOG and GOOGL, has been rapidly expanding its foray into … Read more