US regulator places Google Payment under supervision, company sues


FILE PHOTO: Signage is seen at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo

(Reuters) -The US watchdog for consumer finance on Friday announced it was ordering federal supervision of Google Payment Corp., the internet giant's payment arm, a decision the company immediately said it was challenging in court.

The Consumer Financial Protection Bureau announced the step saying it had determined services offered by Google Payment had posed a risk to consumers.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

New app helps you sit up straight while at your computer
Dispose of CDs, DVDs while protecting your data and the environment
'Just the Browser' strips AI and other features from your browser
How do I reduce my child's screen time?
Anthropic buys Super Bowl ads to slap OpenAI for selling ads in ChatGPT
Chatbot Chucky: Parents told to keep kids away from talking AI dolls
South Korean crypto firm accidentally sends $44 billion in bitcoins to users
Opinion: Chinese AI videos used to look fake. Now they look like money
Anthropic mocks ChatGPT ads in Super Bowl spot, vows Claude will stay ad-free
Tesla 2.0: What customers think of Model S demise, Optimus robot rise

Others Also Read