Feb 27, 2018

PayPal and FTC reached settlement over Venmo's "misleading" practices

Photo: Ted Soqui / Corbis via Getty Images

The Federal Trade Commission on Tuesday said it has reached a settlement with PayPal over allegations that the company's use of Venmo's peer-to-peer payment service carried out unfair and deceptive practices.

What this means: The company is required to remedy the infractions, which include misleading users on how to control the privacy of their transactions and delaying withdrawn funds. Venmo is no longer allowed to misrepresent any material restrictions on the use of its service, the federal agency said in a statement, and has also been ordered to obtain a third-party evaluations every other year for the next ten year to ensure it's in compliance with the rules.

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 1 p.m. ET: 5,543,439 — Total deaths: 347,836 — Total recoveries — 2,266,394Map.
  2. U.S.: Total confirmed cases as of 1 p.m. ET: 1,669,040 — Total deaths: 98,426 — Total recoveries: 379,157 — Total tested: 14,604,942Map.
  3. Trump administration: Mike Pence's press secretary returns to work after beating coronavirus.
  4. States: New York reports lowest number of new coronavirus deaths since March.
  5. Public health: The final data for remdesivir is in and its benefits are rather limited.
  6. Education: A closer look at how colleges can reopenNotre Dame president says science alone "cannot provide the answer" to reopening.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 54 mins ago - Politics & Policy

Pentagon watchdog sidelined by Trump resigns

Fine testiying before the Senate Judiciary Committee in 2017. Photo: Drew Angerer/Getty Images

Glenn Fine, the Pentagon's principal deputy inspector general, submitted his resignation on Tuesday.

Why it matters: President Trump removed Fine as the Pentagon's acting inspector general in April 7 after a group of independent federal watchdogs selected him to lead the Pandemic Response Accountability Committee, which was set up to oversee the rollout of the $2 trillion coronavirus relief bill.

New York reports lowest number of daily coronavirus deaths since March

The number of daily new coronavirus cases and deaths reported in New York was the lowest since the state started its lockdown in March, Gov. Andrew Cuomo said Tuesday, calling Memorial Day a "pivot point" for New York.

By the numbers: 73 New Yorkers died from coronavirus in the past 24 hours, and 200 people tested positive. Hospitalizations and intubations also decreased.