Don't store cash in Venmo and PayPal, US regulator warns [CNN]
PayPal Holdings, Inc. (PYPL)
Last paypal holdings, inc. earnings: 1/29 04:15 pm
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Source: CNN
Some consumers are using services like PayPal, Venmo, Cash App and Apple Pay for direct deposit of paychecks, or simply storing lots of cash in them. But the Consumer Financial Protection Bureau wants people to know they don't have the same protections as a bank or credit union. CFPB Director Rohit Chopra warned in a Thursday statement that payment services like PayPal, Venmo, Cash App and Apple Pay “are increasingly used as substitutes for a traditional bank or credit union account but lack the same protections to ensure that funds are safe.” More than three-quarters of US adults have used at least one payment app, the agency said. The watchdog released the comments in the wake of high profile bank failures like Silicon Valley Bank and Signature Bank. Their customers were made whole because account holders at federally insured financial institutions are guaranteed to get back up to $250,000 per account if the bank fails. (In the case of those two banks, the FDIC even abolished
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PYPL
News
- Payment cards continue to dominate e-commerce payments in Australia, reveals GlobalData [Yahoo! Finance]Yahoo! Finance
- Stripe Brings Back Crypto Payments on Platform With Stablecoins [BNN Bloomberg (Canada)]BNN Bloomberg
- Unlocking Q1 Potential of Paypal (PYPL): Exploring Wall Street Estimates for Key Metrics [Yahoo! Finance]Yahoo! Finance
- Airwallex expands payment acceptance solution to the US [Yahoo! Finance]Yahoo! Finance
- Stripe Unlocks Its All-or-Nothing Payment Processing Approach [BNN Bloomberg (Canada)]BNN Bloomberg
PYPL
Earnings
- 2/7/24 - Beat
PYPL
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- PYPL's page on the SEC website