Civil Investigative Demand issued to Venmo

The Wall Street Journal reports that the Consumer Finance Protection Bureau (CFPB) is investigating money transfer app Venmo over the way it handles collections, a new regulatory filing shows. 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.” PayPal said in a statement emailed to The Verge that it was […]