US Regulator Warns Against Storing Money in PayPal, Venmo, CashApp, Others

The Consumer Financial Protection Bureau (CFPB) has warned Americans against storing money in PayPal, Venmo, CashApp, Apple Pay, and other digital payment apps. CFPB Director Rohit Chopra warned that the majority of the cash kept in these payment apps is not insured and that consumers risk losing their deposits if the payment apps go bankrupt. Chopra noted […] More