US regulatory authority
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The US Consumer Financial Protection Bureau has ordered government supervision of Google Payment Corp - the payment division of the internet giant. - ordered.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen In the complaint filed after the Consumer Financial Protection Bureau (CFPB) announcement, Google Payment Corp. said the regulator was relying on a small number of unsubstantiated complaints about a product that is no longer offered.
"It is a matter of common sense that a discontinued product cannot pose such a risk," the company said.
Risk to consumers
The CFPB previously stated that it had determined that the services offered by Google Payment posed a risk to consumers. The agency referenced nearly 300 consumer complaints, many of which involved fraud, scams and unauthorized transactions. The CFPB declined to comment on the complaint.
Last month, the CFPB issued new regulations that subject tech companies to the same oversight as banks when those companies offer digital wallets and payment services.
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