Google is taking up a part of the US authorities in court docket.
Particularly, Google is suing the Client Monetary Safety Bureau, per Reuters. The search engine firm determined to take the federal client watchdog to court docket after the company ordered supervision of Google Fee, the a part of the corporate that handles, nicely, consumer funds. In line with the CFPB, Google’s cost companies carry dangers for shoppers, comparable to potential fraud and mistaken transactions.
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One angle value noting is that Google truly shut down Google Pay earlier this yr. That is seemingly central to Google’s protection of its conduct right here. In line with the corporate’s criticism, “a product that not exists is incapable of posing such threat.” As such, Google would not really feel supervision (which might be comparable to what’s carried out for main banks and different monetary establishments) is required.
Regardless of this, the CFPB feels that Google’s cost companies might nonetheless pose a threat to prospects, per TechCrunch. The CFPB is working off of just about 300 buyer complaints. Google could not have completed something fallacious, however the CFPB clearly feels Google has completed sufficient to warrant supervision, and Google is not a fan of that.
It is also value noting that every one of this might go away as quickly as Donald Trump takes workplace once more in January, given his administration’s public friendliness with main tech figures.
