The Consumer Financial Protection Bureau is taking steps to place Google under federal supervision, potentially setting a precedent for regulating big tech companies. If successful, this move would subject Google to regular inspections and scrutiny by the CFPB. While the exact goals of this oversight have not been fully revealed, it has been an ongoing battle between Google and the CFPB for months.
Established in 2008 following the financial crisis, the CFPB aims to safeguard consumers from deceptive financial practices. While traditionally focusing on banks and credit unions, Director Rahit Chopra has expressed interest in extending oversight to tech firms offering financial services. This initiative reflects a broader effort by the bureau…
2024-11-14 13:10:32
Originally posted on www.engadget.com
