The US Consumer Financial Protection Bureau (CFPB) has placed Google under federal supervision, a move that could subject the tech giant to regular inspections and rigorous monitoring typically imposed on major banks. This development indicates the CFPB is treating Google like a traditional financial institution, rather than just a technology company. The implications of this action are not yet clear, but it suggests that the agency is taking a closer look at Google’s financial practices and potential compliance with consumer protection laws.
Source: https://www.washingtonpost.com/business/2024/12/06/google-cfpb-supervision-lawsuit