The Consumer Financial Protection Bureau (CFPB) has announced that it will be overseeing Google Payment Corp. due to concerns about consumer risks. This decision comes after the CFPB finalized a rule to supervise digital payment apps, with a focus on the Google Pay app and its peer-to-peer (P2P) payment service. Google has challenged this order through legal action following the announcement.
The CFPB’s supervision is based on issues related to erroneous transactions and fraud prevention within Google’s payment services. Complaints from customers suggest that Google may not have thoroughly investigated these errors or adequately communicated their findings.
2024-12-07 19:08:29
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