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Google United States

CFPB Looks To Place Google Under Federal Supervision 21

Washington Post: The Consumer Financial Protection Bureau has taken steps to place Google under formal federal supervision, an extraordinary move that could subject the technology giant to the regular inspections and other rigorous monitoring that the government imposes on major banks.

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.

CFPB Looks To Place Google Under Federal Supervision

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  • by Anonymous Coward
    Pointless.

    Republicans as of January 20 own the House, the Senate, and the Executive Branch, and Trump owns the Repubicans.

    Trump won't allow any executive agencies to do anything that impacts billionaires in any way except lowering their taxes.

    • by CEC-P ( 10248912 )
      Hahahahaha yeah, the republicans LOVE Google and would never do anything to harm them after the bullshit they pulled in the last 2 elections. Remember, they own Youtube.
      • Yeah, I can't see Trump helping out Google. His Supreme Court might, though; this looks a lot like a an attempt by the agency to greatly expand its own authority, and the current Supreme Court has been skeptical of such things.

  • They have to be broken down to level the playing field. Otherwise the enshitification of the internet will continue.
  • Dr. Robert Epstein using volunteers who capture Google suggestions during elections run-ups, found that Google has the ability to impact election results by biasing the search suggestions and through biases in search results swing undecided voters. He estimates that Google can swing up to 80 percent of undecided voters through these biases. In a close election Google could affect the outcome without visibility into their impact nor any accountability for it.
    • by wiggles ( 30088 )

      That's it! The election was stolen! I suggest you all have a nice rally in Washington on January 6th and show those Republicans who matters!

    • They didn't do a good enough job and now they face the consequences.

      j/k who uses Google anymore?

  • This is not political. It's simply because..., er, well, maybe it is political.

Were there fewer fools, knaves would starve. - Anonymous

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