The Wall Street Journal, February 5, 2021, Venmo’s Debt-Collection Practices Probed by CFPB
The payment app’s tactics-including threatening to send debt collectors after customers who are scam victims-have previously come under scrutiny.
In a regulatory filing, PayPal said it had received a “Civil Investigative Demand” from the CFPB “related to Venmo’s unauthorized funds transfers and collections processes, and related matters.” The company said the CFPB had requested documents and answers to written questions, and that it was cooperating with the regulators.
