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CFPB Looks To Place Google Under Federal Supervision
Thursday November 14, 2024. 03:39 PM , from Slashdot
Google has fiercely resisted the idea over months of highly secretive talks, according to two people familiar with the discussions, who spoke on the condition of anonymity to describe them -- setting up what may ultimately be a major legal clash with vast implications for the CFPB's powers in the digital age. The exact scope of the CFPB's concerns is not clear, and its order does not appear to be final. The political fate of the bureau's work under Director Rohit Chopra is also in doubt, as the watchdog agency braces for potentially significant changes to its leadership and agenda with the return of President-elect Donald Trump to the White House. Formed in the aftermath of the 2008 financial crisis, the CFPB has broad powers to protect consumers from unfair, deceptive or predatory financial practices. That includes the ability to place certain firms under supervision, a status that can afford regulators direct access to the company's internal records to ensure their activities are sound -- and seek fixes if they are not. Read more of this story at Slashdot.
https://news.slashdot.org/story/24/11/14/1439227/cfpb-looks-to-place-google-under-federal-supervisio...
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