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FTC gives final approval to settlement with PayPal

( May 24, 2018, 18:43 GMT | Official Statement) -- MLex Summary: The US Federal Trade Commission has given final approval to a settlement with PayPal over allegations that its Venmo peer-to-peer payment service misled consumers about their ability to transfer funds to external bank accounts and control the privacy of their Venmo transactions. As part of the settlement, Venmo is prohibited from 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.Statement follows in full. ...

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