US consumer watchdog investigating PayPal-owned ‘Venmo’ app: Report
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A US consumer watchdog is investigating PayPal-owned money transfer app Venmo's funds transfers and collection processes, a new regulatory filing showed. PayPal said it received on January 21 a Civil Investigative Demand (CID) from the Consumer Financial Protection Bureau (CFPB) in the US related to "Venmo's unauthorised funds transfers and collections processes, and related matters."