Consumer Watchdog Halts Biden-Era Google Payment Supervision
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The Consumer Financial Protection Bureau discontinued its order designating the supervision of Alphabet Inc.’s Google Payment Corp., reversing a Biden-era decision to monitor the nonbank financial platform.
The supervision of Google Payment would be “an unwarranted use of the Bureau’s powers and resources,” acting CFPB director Russell Vought, who was appointed by President Donald Trump, said in a May 7 memo seen by Bloomberg News.