Getting dozens of emails and push notifications from Google Ads, Cloud, etc. that there is an issue with the payment method stored.
Will update this post once an official message/post is published, but looking at https://twitter.com/search?q=google%20cloud%20billing&src=typed_query&f=live seems pretty widespread.
Whew, glad it's not just me. I got an email threatening my Google account, and went in to the billing console to see a balance of $0.03. Three cents. The console won't even let you pay an amount that low!
If you click into the support chat agent eventually you get this notice:
"Issues with 'Payment failed notification' is fully resolved
On September 22, 2021, you may have received a ‘payment failed notification’ indicating that your payment information was invalid and required updating.
"This issue has now been mitigated and there is no action required from you."