Google scraps plans to manage people's bank accounts - NewsBreak

Google is scrapping plans to manage the bank accounts of users through its mobile payments app, the company said Friday. Last year, the search giant announced an overhaul of its Google Pay service, which lets people pay for things using their phones, by extending its focus to online banking. The company partnered with a handful of banks and financial institutions including Citi and the Stanford Federal Credit Union to create a "mobile-first" bank account called Plex, with no monthly fees or overdraft charges.