Illustration: Annelise Capossela/Axios
The Consumer Financial Protection Bureau is withdrawing its attempt to supervise Google Payment Corp., per a federal court filing first shared with Axios.
Why it matters: This is a small win for the tech giant around its payment subsidiary Google Payment Corp. as it faces aggressive federal antitrust action elsewhere.
Driving the news: In response, Google is dropping its lawsuit against the CFPB, filed last December.
- Google's lawsuit followed the agency's move to oversee the Google Payment Corporation.
- That order was launched around Google Pay's Peer-to-Peer payment product, which was discontinued in the U.S. last June.
What they're saying: "It didn't make sense for the CFPB to supervise a product that never posed any risks and is no longer available in the U.S. We appreciate their common-sense decision to drop this issue," Google spokesperson José Castañeda said in a statement.
What's inside: A filing signed by OMB director Russell Vought, acting CFPB director, reads that "extending Bureau supervision to GPC would be an unwarranted use of the Bureau's powers and resources."
Flashback: The CFPB, a top target of DOGE, just had a win in court to prevent mass layoffs. The agency aggressively went after tech companies under its former director Rohit Chopra.
