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.
Banking Laws Lag as Money Transfers Surge
Massachusetts residents used mobile payment platforms like Venmo or CashApp to send or receive more than $31 billion last year and financial regulators at the Division of Banks fear that the public is under the false impression that the activity is regulated.
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.
A Business Model to Help Kids Save and Spend
As an attorney who had worked in the banking industry before founding two fintechs including his current venture, Jassby, Benny Nachman knew that even though children and teenagers now have more spending power, most lenders did not have a dedicated solution for their needs.
Big US Banks To Take On Tech Rivals With Instant Payments
Depositors at some of the largest U.S. banks are...
