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PayPal says app Venmo being investigated by U.S. consumer watchdog

FILE PHOTO: The PayPal logo is seen at an office building in Berlin, Germany, March 5, 2019. REUTERS/Fabrizio Bensch/File Photo

(Reuters) - PayPal Holdings Inc said on Friday it received a civil investigative demand from the U.S. Consumer Financial Protection Bureau related to its app Venmo’s alleged unauthorized fund transfers and collections processes.

Reporting by Niket Nishant in Bengaluru; Editing by Arun Koyyur

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