The Consumer Financial Protection Bureau (CFPB) has ordered federal oversight of Google Pay, citing numerous customer complaints regarding erroneous transactions and inadequate fraud prevention. Google is challenging the decision, claiming it’s government overreach, but the CFPB maintains its authority.
Goldman Sachs and Apple have agreed to pay over $89 million to resolve allegations of misleading customers and mishandling disputes related to their Apple Card joint venture. The CFPB found that the companies engaged in unfair and deceptive practices, including failing to properly handle customer disputes and misrepresenting interest-free payment plans. This settlement highlights the ongoing scrutiny of big tech companies and their financial practices.
