PayPal's popular app for sending money, Venmo, is facing a federal investigation
PayPal hasn't disclosed which aspects of Venmo the FTC is investigating, but the company says it is fully cooperative with the investigation.Tech Insider reached out to PayPal for more information. The company provided the following statement:
As a global payments provider, we are completely aligned with regulators in their efforts to ensure that consumers have positive experiences when using our services. We consult and collaborate with regulators and work hard to comply with laws and regulations in the markets where we do business, around the world. We are cooperating fully with the Federal Trade Commission to address their requests for information.
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