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April 28, 2016Blog Posts

The FTC is investigating Venmo over ‘deceptive or unfair practices’

The Verge

Venmo, the hugely popular peer-to-peer payment service owned by PayPal, is under investigation by the Federal Trade Commission. Its parent company acknowledged the situation today in an SEC filing. “On March 28th, 2016, we received a Civil Investigative Demand (CID) from the Federal Trade Commission as part of its investigation to determine whether we, through our Venmo service, have been or are engaged in deceptive or unfair practices in violation of the Federal Trade Commission Act,” the filing reads.
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