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-0.000381530794985647 -0.000873627657089476 -0.00124581484076926 -0.00116795141322125 -0.00498325936307717 -0.00233590282644251 -0.0046718056528848 -0.00327026395701929
Stock impact report

Money in Your Venmo and PayPal Apps May Be at Risk, CFPB Says [CNET News]

PayPal Holdings, Inc. (PYPL) 
Last paypal holdings, inc. earnings: 1/29 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.paypal-corp.com
Company Research Source: CNET News
You may want to move the money you've got stored in Venmo, PayPal or Cash App. The Consumer Financial Protection Bureau on Thursday issued a report highlighting the financial dangers digital payments apps pose to consumers due to a lack of federal deposit insurance. The CFPB pointed to several major financial institutions, including Silicon Valley Bank, Signature Bank and First Republic Bank, that experienced a bank run earlier this year that jeopardized the money of individuals and businesses. The money that's stored on payment apps might not be held in accounts with federal deposit insurance, coverage that protects your money in the event of a bank failure, the CFPB explained in a press release. So in the event of a financial crisis, the more than 75% of US adults who use these apps could lose the funds they keep there. In 2022 alone, transaction volume across all digital payment app service providers was around $893 billion, the release says. "Popular digital payment apps Show less Read more
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