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.

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