Google has filed a lawsuit against the U.S. Consumer Financial Protection Bureau (CFPB) over its oversight order regarding Google Pay. On Friday, December 6, Google described the move as “an abuse of government power.”
Google spokesperson José Castaneda said, “There was no risk associated with Google Pay’s peer-to-peer payment services, and it is no longer offered in the United States. In this context, the CFPB’s decision is clearly an overreach of power. Therefore, we are challenging it in court.”
The CFPB is a government agency dedicated to protecting the financial security of U.S. consumers, and it recently issued an order for federal oversight of services like Google Pay. The agency argues that tech companies managing consumers’ financial transactions could create potential risks.
Experts believe that Google’s lawsuit will further intensify the ongoing debate over the role and power of government regulatory bodies against the U.S. tech industry. It remains to be seen how the court ruling will influence this ongoing controversy.
