FTC Finalizes Settlement With PayPal Over Misleading Venmo Transfers
The FTC finalized a settlement with PayPal over allegations Venmo customers weren't adequately informed about balance transfer procedures, preventing them from being able to pay bills (see 1802270048), the FTC said Thursday. The settlement dictates that Venmo “is prohibited from…
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misrepresenting any material restrictions on the use of its service, the extent of control provided by any privacy settings, and the extent to which Venmo implements or adheres to a particular level of security.”