Consumer watchdog halts Biden-era Google Payment supervision

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The US Consumer Financial Protection Bureau has withdrawn its efforts to supervise Alphabet‘s Google Payment Corp, a spokesperson for Google said on Thursday, marking a reversal of a Biden-era decision to monitor the nonbank financial platform. The watchdog announced in December that it was ordering federal supervision of Alphabet’s payment arm, a decision the company immediately said it was challenging in court.

Google will now drop its lawsuit since the CFPB has discontinued its supervision efforts, a spokesperson for the company said in an emailed…



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Consumer watchdog halts Biden-era Google Payment supervision


The US Consumer Financial Protection Bureau has withdrawn its efforts to supervise Alphabet‘s Google Payment Corp, a spokesperson for Google said on Thursday, marking a reversal of a Biden-era decision to monitor the nonbank financial platform. The watchdog announced in December that it was ordering federal supervision of Alphabet’s payment arm, a decision the company immediately said it was challenging in court.

Google will now drop its lawsuit since the CFPB has discontinued its supervision efforts, a spokesperson for the company said in an emailed…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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