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Consumer protection agency investigating Venmo

Source: Kim Lyons, The Verge

The Consumer Finance Protection Bureau is investigating money transfer app Venmo over the way it handles collections, a new regulatory filing shows. First reported by The Wall Street Journal, the filing shows Venmo owner PayPal received a Civil Investigative Demand from the CFPB on January 21st, “related to Venmo’s unauthorized funds transfers and collections processes, and related matters.”

Read Full Article: Consumer protection agency investigating Venmo