Official announcements from the CFPB or Alphabet Inc.

CFPB Moves to Place Alphabet's Google Under Federal Supervision

Nov 14, 2024, 02:51 PM

The Consumer Financial Protection Bureau (CFPB) is reportedly taking steps to place Alphabet Inc.'s Google under formal federal supervision, according to sources cited by The Washington Post. This move could subject the technology giant to regular inspections and rigorous monitoring similar to those imposed on major banks. Google has fiercely resisted this oversight, engaging in months of secretive talks with the CFPB. The exact scope of the CFPB's concerns remains unclear, and the order does not appear to be final. This development comes amidst a backdrop of multiple antitrust lawsuits against Google, where judges have criticized the company for allegedly manipulating and erasing evidence related to monopolistic practices. CFPB Director Rohit Chopra's tenure is likely to end shortly with the new administration.