Google Challenges CFPB's Oversight of Digital Payment Services

Google has filed a lawsuit to block the Consumer Financial Protection Bureau's (CFPB) order placing Google Payment Corp. under federal supervision, akin to banks. The CFPB cited risks in Google's error resolution and fraud prevention processes, based on consumer complaints about Google Pay Balance and peer-to-peer payments. Google argues the complaints are unsubstantiated and claims the supervision is government overreach, especially since the services in question have been discontinued in the U.S.