CFPB drops Google Payment oversight, latest enforcement pullback under Trump
By 
Ian Sherr2025-05-13T13:18:00
The Consumer Financial Protection Bureau (CFPB) continued advancing President Donald Trump’s pullback of corporate oversight last week as it halted supervision of Alphabet’s Google Payment subsidiary. The move followed similar efforts by the Trump administration to weaken government enforcement efforts, particularly concerning digital currencies.
The move, reported earlier by Bloomberg and then confirmed by the bureau on its website, came nearly six months after the CFPB ordered federal supervision of Google’s payments arm. At the time, last December, the CFPB said it would establish supervisory authority over Google “nonbank” product to ”ensure they are complying with federal and consumer protection laws.” Google shuttered its peer-to-peer payments product last summer, before the CFPB’s action.
In a short update statement on its website, the CFPB said it “withdrew the order that designated Google Payment Corporation for supervision” on May 7.
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