FTC Investgating Venmo for Possible Unfair Practices

Venmo, the hugely popular peer-to-peer payments service owned by PayPal, is under investigation by the Federal Trade Commission. Its parent company acknowledged the situation 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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