Peter Rudegeair

speaker

756 appearances 12 recordings 1 series first heard Nov 2017 last heard May 2021

Peter Rudegeair’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Venmo Tells Scammed Customers to Pay Up · 25 Sep 2020 podcast

They're not asking for any proof that you lost your job or anything.

It's kind of limited in the diligence they're going to do on your particular situation.

Right.

It's hard to say if the rate of scams is increasing, but definitely in absolute numbers that's increasing.

And as you say, some of it is just more e-commerce is happening, more people are living their digital lives.

You're transacting digitally rather than in person.

So you'd expect just in absolute dollars and cases those to go up.

But what we don't really know is, is this fraud a greater percentage of transactions people are having now versus before?

Oh, sure.

And that is an expectation of the company.

Venmo doesn't tell us how many users have negative balances and how much they owe, but Venmo is part of PayPal, and PayPal reports for the entire company that as of the end of the second quarter, there was $221 million in unpaid negative balances that they didn't expect to be repaid.

And they write that off typically after 120 days.

Thanks, JR.

WSJ Your Money Briefing · Small Businesses Turn to Small Banks to Apply for PPP Loans · 3 Aug 2020 podcast

bigger isn't always necessarily better, right?

One thing that you can't always get at a big bank is a person on the phone that can help you navigate things, that can give you answers.

You know, a lot of big banks prefer to do their customer service through hotlines and through, you know, websites.

So the Paycheck Protection Program started accepting applications on April 3rd, a Friday.

A lot of small businesses logged on to their bank's websites to try to apply, and they found nothing a lot of the time.

A lot of banks weren't ready to go on day one to submit applications.

So a lot of them kind of panicked.

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