Internet reports that the U.S. Consumer Financial Protection Bureau (CFPB) revoked its order to include Google's payment business in regulation, reversing the Biden administration's decision to regulate non-bank financial platforms. The memorandum shows that Russell Water, acting director of the CFPB appointed by Trump, believes that regulating Google's payments business is an "inappropriate use of the agency's powers and resources." In December 2023, the CFPB under the leadership of former Commissioner Rohit Chopra stated that Google's payments business was within its law enforcement jurisdiction but still met the regulatory conditions required by "law." However, Google shut down the payment service in June last year. During Biden's administration, the CFPB led by Chopra made the supervision of non-bank financial institutions such as digital wallets and payment applications a priority. But as the regulatory focus shifts to licensed banking institutions, the institution has terminated a number of regulatory policies and lawsuits against non-deposit financial companies.