US regulator places Google Payment under supervision, company sues

Quick Summary:

:The US watchdog for consumer finance on Friday announced it was ordering federal supervision of Google Payment Corp., the internet giant's payment arm, a decision the company immediately said it was challenging in court.

"As a matter of common sense, a product that no longer exists is incapable of posing such risk," the company's complaint said.

Financial regulators use confidential supervisory exams to spot and correct companies' violations of law.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Payment Cfpb Company Regulator Financial Biden Google Services Supervision Consumer Complaints

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-07 @ 05:35:07 (5 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 386 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 24178441

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 46 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 49 minutes ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #27

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