Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Good morning. Today is Monday, December 9th. I'm Julie Morgan. The CFPB has a close eye on Google Payment.

There are some shuffling around at the S&P 500, S&P small Cap 600, and the SMP midcap 400, and Omnicom and

Interpublic are reportedly close to a merger. The Consumer Financial Protection Bureau has established

supervisory authority over Alphabet's Google Payment, citing reasonable cause to determine that its conduct poses a risk to consumers.

The watchdog pointed to Google's practices in investigating allegedly erroneous transactions

and his conduct in connection with the prevention of fraudulent and unauthorized transactions.

The CFPB clarified that its order does not constitute a finding that the

entity has engaged in wrongdoing. In response, Google sued the CFPB claiming the order would

subjected to burdensome supervision and is in excess of statutory authority. Google claims that the

CFPB relied on 33 cherry-pick complaints involving

peer-to-peer payments that it discontinued earlier this year. The CFPB said it relied on

267 consumer complaints and the regulatory framework for the designation does not specify the degree

of risk needed to justify supervision.

Apollo Global Management and Workday will replace Corvo and Amintam Holdings in the S&P 500

respectively before the open of trading on Monday, December 23rd.

Comerica, Carpenter Technology, Vichet Inter Technology,, and Carter's will replace each other in the SMP Small Cap 600 and S&P Midcap 400 respectively.

And Torino Realty and Champion Homes will replace Hudson Pacific Properties and Reginex Bio in the SMP small cap 600 respectively.

Omnicom Group is in advance talks to buy long-time rival Interpublic Group in a deal that

would create the world's biggest advertising company. The Wall Street Journal reported on

Sunday citing people familiar with the matter that a transaction could be announced as early

as this week.

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