By  Kyle Brasseur2024-05-02T16:24:00
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.
 
                
                2025-10-30T19:59:00Z By Oscar Gonzalez
Texas Attorney General Ken Paxton sued two pharmaceutical companies for ”deceptively marketing Tylenol to pregnant mothers” despite risks linked to autism. The filing came two days before HHS Secretary Robert F. Kennedy Jr. appeared to walk back the claims.
 
                
                2025-10-29T20:04:00Z By Oscar Gonzalez
The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”
 
                
                2025-10-28T21:11:00Z By Adrianne Appel
Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
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