14th November 2024 – (Washington) The U.S. Consumer Financial Protection Bureau (CFPB) is reportedly taking steps to place Alphabet’s Google under formal federal supervision, potentially adding to the growing regulatory challenges faced by the tech giant. According to a report by the Washington Post on Thursday, Google has staunchly opposed this move during months of confidential discussions.
Federal supervision would grant regulators access to Google’s internal records, increasing oversight of the company’s operations and financial practices. The CFPB and Alphabet have both declined to comment on the developments.
This latest regulatory push comes as Google grapples with existing government actions that could compel the company to divest certain business segments. Additionally, a court ruling may force Google to open its mobile app store to greater competition, further complicating its operational landscape.