Mass. Bank Regulators Get Power Over Venmo, CashApp
A new bill has been signed by Gov. Maura Healey that gives the state’s banking regulators oversight over peer-to-peer payment apps like Venmo, PayPal and CashApp.
Mass. Money Transmission Bill Protects Consumers, Levels Regulatory Playing Field
Massachusetts residents send billions of dollars every year using money transmission platforms like Venmo, PayPal and CashApp – but with zero state consumer protections.
In Crisis, Payment Apps Like Venmo Could Be Vulnerable, CFPB Warns
Customers of Venmo, PayPal and CashApp should not store their money with those apps for the long term because the funds might not be safe during a crisis, the Consumer Financial Protection Bureau warned Thursday.
Prepare Now for FedNow
At some point between May and July, the Federal Reserve plans to launch its real-time payments system FedNow, and EasCorp’s Cynthia Nelson wants credit unions to get ready.
Report: Identity Theft Doubles for Older Consumers
Identity theft incidents that targeted older consumers in 2021 nearly doubled year-over-year, according to a new report from Aite-Novarica Group.
‘Chuck’ Gives Community Banks a P2P Option
When its younger employees started calling Zelle “clunky,” Reading Cooperative Bank knew it had to give its customers a second option for peer-to-peer payment services.
