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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remedy the infractions, which include misleading users on how to control the privacy of their transactions and delaying withdrawn funds.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.

Go deeper

Margaret Harding McGill, Ashley Gold
34 mins ago - Technology

Tech digs in for long domestic terror fight

Illustration: Sarah Grillo/Axios

With domestic extremist networks scrambling to regroup online, experts fear the next attack could come from a radicalized individual — much harder than coordinated mass events for law enforcement and platforms to detect or deter.

The big picture: Companies like Facebook and Twitter stepped up enforcement and their conversations with law enforcement ahead of Inauguration Day. But they'll be tested as the threat rises that impatient lone-wolf attackers will lash out.

Go deeper (2 min. read)Arrow
Marisa Fernandez
45 mins ago - Health

The pandemic could be worsening childhood obesity

Illustration: Aïda Amer/Axios

The 10-month long school closures and the coronavirus pandemic are expected to have a big impact on childhood obesity rates.

Why it matters: About one in five children are obese in the U.S. — an all-time high — with worsening obesity rates across income and racial and ethnic groups, data from the National Health and Nutrition Examination Survey show.

Go deeper (1 min. read)Arrow
Dave Lawler, author of World
45 mins ago - World

Biden's Russia challenge

Illustration: Eniola Odetunde/Axios

The Biden administration has already proposed a five-year extension of the last treaty constraining the U.S. and Russian nuclear arsenals, announced an urgent investigation into a massive Russia-linked cyberattack, and demanded the release of Russia’s leading opposition figure, Alexey Navalny.

Why it matters: Those three steps in Biden's first week underscore the challenge he faces from Vladimir Putin — an authoritarian intent on weakening the U.S. and its alliances, with whom he’ll nonetheless have to engage on critical issues.

Go deeper (2 min. read)Arrow