CNN —Google sued the Consumer Financial Protection Bureau on Friday, challenging the agency’s decision to place Google’s payment division under federal supervision.
The lawsuit, filed in the US district court in Washington DC, comes after the CFPB published an order announcing supervisory authority of Google Payment Corp.
The agency alleged that Google’s handling of its payment products may pose a risk to consumers.
In a statement, Google spokesperson José Castañeda said Google’s payment products never posed a risk to users.
In the company’s lawsuit, Google argued that the CFPB committed a legal error by setting an “exceedingly low bar” for what it counts as sufficient risks to consumers.
Persons:
José Castañeda, ”
Organizations:
CNN, Google, Consumer Financial, Google Payment Corp
Locations:
Washington DC, U.S