By Kyle Brasseur2024-05-02T16:24:00
Digital wallet company PayPal disclosed it won’t face enforcement regarding a Consumer Financial Protection Bureau (CFPB) probe into its subsidiary Venmo.
PayPal said it received investigative demands from the CFPB “related to Venmo’s unauthorized funds transfers and collections processes and related matters, including treatment of consumers who request payments but accidentally designate an unintended recipient.” The company responded to requests for documents and answers to written questions from the agency.
In March, the CFPB told PayPal it was concluding its inquiry without taking action, the company said in a regulatory filing Tuesday.
2024-05-07T17:48:00Z By Jeff Dale
The Consumer Financial Protection Bureau ordered Chime Financial to pay $3.25 million in penalties for allegedly delaying consumer refunds past its promised 14-day timeframe.
2024-04-17T17:38:00Z By Kyle Brasseur
The Consumer Financial Protection Bureau continued its push to establish supervisory authority over more nonbank financial companies with the adoption of a procedural rule to streamline the process for such designations.
2024-02-26T21:01:00Z By Kyle Brasseur
Installment lender World Acceptance Corp. was the subject of the Consumer Financial Protection Bureau’s first use of a dormant legal provision allowing it to establish supervisory authority over more nonbank financial companies.
2025-08-28T18:44:00Z By Adrianne Appel
The Trump administration has intensified its fight with California as the DOJ launched an investigation into whether the state’s environmental agency is violating federal law by pursuing racial equity.
2025-08-27T14:11:00Z By Adrianne Appel and Oscar Gonzalez
Synapse Financial Technologies, the troubled California fintech software provider, has agreed to let the Consumer Financial Protection Bureau (CFPB) eventually file a claim on its bankrupt estate.
2025-08-25T20:49:00Z By Adrianne Appel
JPMorgan Chase has agreed to pay $330 million to settle allegations about its role in the massive, decades-long theft of Malaysian’s 1MDB state investment fund, the bank says. An estimated $4.5 billion was robbed from the 1MDB fund, from 2009-2014, in a scheme led by Malaysian financier, Jho Low, former ...
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