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Google sues to stop the US from monitoring it like a bank

Google says Google Pay P2P “never raised risks.”

The Consumer Financial Protection Bureau (CFPB) announced on Friday it had placed Google Payment Corp. under federal supervision, reports Reuters. Google reportedly filed a lawsuit to block the CFPB’s order, which could result in routine inspections and monitoring like those imposed on banks. This is a clear case of government overreach involving Google Pay peer-to-peer payments, which never raised risks and is no longer provided in the U.S., and we are challenging it in court.

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