| Fintech giant PayPal said Friday a U.S. consumer watchdog is probing the Venmo app. Reuters announced on Friday that the firm received a civil investigation inquiry (CID) from the Consumer Financial Protection Bureau for alleged “unauthorized fund transfers and collection processes” by Venmo. A CID is a legal request for documents and records or any information relating to an investigation by an agency. Venmo offers a mobile platform for peer-to-peer transactions and social features. Last June, PayPal said it will allow users to purchase, hold, and sell cryptocurrencies on Venmo later this year. |
PayPal Says Venmo Under Investigation in the US by Consumer Regulator
According to Reuters, the U.S. Consumer Financial Protection Bureau is evaluating the Social Payments App.
Sourcecoindesk
- Advertisment -
Must Read
Indian banks put crypto traders’ accounts under the microscope
India’s parliament is currently contemplating a nation-wide crypto ban which local industry critics like former Coinbase CTO Balaji Srinivasan have compared to “banning the...
