Washington – The Consumer Financial Protection Bureau has issued an order that establishes federal supervisory authority over Google. The order, which relied on an alleged showing of consumer harm, pertains to a product Google no longer provides in the United States.
The following can be attributed to CCIA President & CEO Matt Schruers:
“The CFPB has imposed ongoing supervisory authority on Google based on a defunct product. To enter such an order citing a peer-to-peer payment function that was discontinued months ago defies any possible rationale for consumer protection. This action oversteps and if sustained would set a troubling precedent.”
