FTC Investigating Venmo, Potentially Raising Compliance Interpretation Issues

Venmo has gotten into trouble-of the embarrassment sort-before with aggressive compliance efforts. That was specifically when it created a list of words that could delay transaction processing, such as the word Persian. And PayPal-owned Venmo was hardly alone, with Chase was caught doing similar word scans, as a man who had a dog named Dash discovered.


But the U.S. Federal Trade Commission has now launched a formal investigation into Venmo. With the FTC, phrasing is critical. An investigation is very different than an FTC study, such as the one the FTC launched to look into practices of the PCI Council. PayPal disclosed the investigation in an SEC filing last week. What exactly is being investigated?


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