Reported 20 days ago
The US Consumer Financial Protection Bureau has placed Google Payment Corp. under federal supervision due to consumer risks, a decision the company is contesting in court. The CFPB cited nearly 300 consumer complaints related to fraud and unauthorized transactions, indicating that Google Payment failed to address these issues adequately. The regulator's actions reflect increased scrutiny of Silicon Valley's financial services, though this oversight could change with the incoming administration.
Source: YAHOO