Tech trade groups NetChoice and TechNet sue CFPB for its efforts to regulate digital payment apps like Apple Pay, Google Wallet, and Venmo more like banks
Today, NetChoice joined @TechNetUpdate in a new lawsuit to protect consumers, businesses and innovation from the Consumer Financial Protection Bureau [image] Chris Marchese / @chrismarchese9 : Incredi...
Filing: CFPB probes Venmo's debt-collection tactics; Venmo actions like threatening to send debt collectors after users who are scam victims are under scrutiny
including threatening to send debt collectors after customers who are scam victims—have previously come under scrutiny https://www.wsj.com/... Charles Forelle / @charlesforelle : And now Venmo is bein...
Criminals launder coronavirus relief money through Venmo, Cash App, PayPal and other apps; so far 80 have been charged with trying to steal $240M+ from the PPP
Criminals are laundering illegally obtained funds meant for Covid-19 relief through the most popular apps for legally sending …
Transfer limits and security freezes imposed by PayPal and Venmo are stalling efforts to bail out people from jail in the middle of a pandemic
$20,000 worth of cash bail—per week.” https://www.vice.com/...
Venmo reaches FTC settlement over bad security and transaction practices, with FTC Chairwoman Maureen K. Ohlhausen noting “consumers suffered real harm”
Russell Brandom / The Verge :
Scammers are using Zelle, a p2p payments service, to defraud online buyers who trusted the service because it is backed by US banks
Scammers have taken to Zelle, the Venmo alternative backed by U.S. banks, to defraud consumers who believe the service includes the same protections they've come to expect from PayPal.
FTC is investigating Venmo over “deceptive or unfair practices”, PayPal's SEC filing shows
Chris Welch / The Verge :