PayPal Fined $175K for Texas Privacy Violations

Texas Attorney General Ken Paxton (R) May 20 announced a $175,000 settlement with online payment giant PayPal Inc. for alleged violations of the Texas Trade Deceptive Act.

“It is important that businesses remain aware of the potential consequences regarding their users’ privacy and security so that they can better protect consumers,” Paxton said in the statement.

Venmo, a digital internet wallet application owned by PayPal, “used consumers’ phone contacts without clearly disclosing how the contact would be used, did not clearly disclose how consumers’ transactions and interactions with other users would be shared and misrepresented that communications from Venmo were ...