The Consumer Financial Protection Bureau (CFPB) is allegedly looking to place Google under federal supervision, mirroring the oversight traditionally applied to banks.
While concerns from the CFPB remain vague, industry leaders argue that the agency’s expansion into digital payment oversight lacks a legal foundation.
CFPB Director Rohit Chopra aims to extend the agency's purview to tech companies, despite pushback from the tech sector, who see it as an overreach.
The financial industry anticipates that regulatory actions from the CFPB might diminish once Donald Trump assumes office and appoints new leadership.
#consumer-financial-protection-bureau #google #regulatory-oversight #digital-payments #trump-administration
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