

Dwolla now issuing cashbacks - reversing earlier policy - jostmey
http://tradehillblog.com/

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Andys
When they said the system was free of chargebacks, that just meant due to
people changing their mind. You still get the rug pulled from under your feet
if there's fraud (I assume, stolen bank accounts).

------
thinkcomp
This is pretty serious and brings into question all of Dwolla's million-
dollar-a-day transaction volume claims. If if it is a million dollars a day--
which I find totally inconceivable having built FaceCash day-by-day for two-
plus years--it's clearly not from mobile payments.

Dwolla isn't licensed as a money transmitter anywhere but Iowa to the best of
my knowledge. Their management claims that their investors make them exempt,
but that's simply not the case. If there were anyway to bring regulatory
scrutiny upon oneself, processing a million dollars a day in fraudulent
transactions for an unregulated cryptocurrency would be it.

Be careful!

