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PayPal Working With CFPB in Connection With Civil Investigative Demand Related to Venmo's Collection Processes

· 02/05/2021 03:17

08:14 AM EST, 02/05/2021 (MT Newswires) -- PayPal Holdings (PYPL) said Friday it is working with the US Consumer Financial Protection Bureau in connection with a civil investigative demand related to its mobile payment app Venmo's unauthorized fund transfers and collection processes.

The company received the demand from CFPB on Jan. 21, according to a filing with the US Securities and Exchange Commission.

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