CFPB Flexes Supervisory Muscle Over Google Payment Corp.

Cozen O'Connor
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  • The CFPB issued an order establishing supervisory authority over Google Payment Corp. based on operation of its Google Pay app and Google Pay Balance, which was accessible through the app.
  • In the supervisory designation order, the CFPB set forth its determination that Google’s practices in connection with investigating allegedly erroneous transactions and preventing fraudulent and unauthorized transactions on the app posed risks to consumers.
  • Google is not required to take any immediate action, but the CFPB will notify Google if it determines that it will require reports from, or conduct examinations of, the company.
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