CFPB Seeks to Expand Reach: Google Under Scrutiny
The Consumer Financial Protection Bureau (CFPB) is making headlines once again, this time targeting a tech giant. Reports suggest that the agency is considering placing Google under federal supervision, a move that could subject the company to the same level of scrutiny as traditional financial institutions. CFPB's Expanding Regulatory Scope The CFPB, established in the aftermath of the 2008 financial crisis, has historically focused on regulating banks and other financial institutions. However, under the leadership of Director Rohit Chopra, the agency has been increasingly assertive in expanding its regulatory reach to include digital payment providers and other non-traditional financial services. This expansion has sparked significant debate within the tech industry, with companies arguing that the CFPB's authority does not extend to their operations. Critics contend that such oversight could stifle innovation and impose unnecessary burdens on businesses. Google in the Crosshair…
