Commentary When PayPal updated its Acceptable Use Policy to say it could confiscate $2,500 from users who spread “misinformation,” many people were stunned. The stock price was hit hard and it is still falling, off 53 percent from the high this calendar year. Many people closed their accounts. One supposes that many also transferred money…
PayPal Warned Over Speech Restrictions by Federal Financial Regulator
A top federal financial regulator said he was considering investigating PayPal for a policy that it has now rescinded that would fine users $2,500 for spreading “misinformation.” Consumer Financial Protection Bureau Director Rohit Chopra told CNBC suggested that the policy, which PayPal said over the past weekend was issued in error, was too extreme. “I’ve…
Despite Initial Pullback, PayPal Will Continue to Fine Users for ‘Intolerance’ and ‘Hate’
PayPal intends to fine users who engage in activities that the payment service believes come under the categories of “hate” and “intolerance,” according to its last updated Acceptable User Policy (AUP). In September, PayPal announced that it was amending its AUP, which is scheduled to come into effect in November. The policy stated that PayPal…
PayPal Pivots, Won’t Police ‘Misinformation’; JPMorgan: Recession Coming in 6–9 Months | NTD Business
A top bank CEO is warning that a U.S. recession is coming in less than a year—and a major stock index could fall again big-time. Ben Bernanke wins the Nobel Prize for economics, almost 15 years after the Great Recession. What are the results of his 15-year long experiment? Elon Musk weighs in on tensions…
The PayPal Fiasco Was No Accident
Commentary Over the weekend, PayPal sent out an update to its terms of use or acceptable use policy. It included a shocking addition. It reserved the right to confiscate $2,500 from people’s accounts if they spread “misinformation.” It was a clear announcement of what many already suspected: PayPal has enlisted in the information war. This…
PayPal Stock Plunges Despite Pulling Controversial Policy Fining users $2,500 for ‘Misinformation’
PayPal’s stock dropped more than 6 percentage points on Monday after reports emerged that the firm may attempt to fine people $2,500 for spreading “misinformation” via the platform. Over the weekend, the company told The Epoch Times that “PayPal is not fining people for misinformation and this language was never intended to be inserted in…
Users Reject PayPal’s Attempt to Limit Speech. They Should.
October 9, 2022
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Commentary An update to the Acceptable Use Policy (AUP) of PayPal, the multinational payments platform, was interpreted to say the company will withhold up to $2,500 of account holders’ funds as “liquidated damages” if users “provide false, inaccurate, or misleading information.” The new policy was first highlighted by the Daily Wire on Oct. 7. Even…
PayPal Reverses Course, Says Company Will Not Seize Money for Promoting ‘Misinformation’
PayPal on Oct. 8 said it was not implementing a new policy that would have enabled the company to seize money from users who allegedly promote “misinformation” or “hate.” “An AUP notice recently went out in error that included incorrect information. PayPal is not fining people for misinformation and this language was never intended to be…
PayPal Reverses Course, Says Company Will Not Seize Money From People for Promoting ‘Misinformation’
PayPal on Oct. 8 said it was not implementing a new policy that would have enabled the company to seize money from users who allegedly promote “misinformation” or “hate.” “An AUP notice recently went out in error that included incorrect information. PayPal is not fining people for misinformation and this language was never intended to be…
PayPal Lifts Ban on Free Speech Union After Backlash
PayPal has reinstated the accounts of the Free Speech Union, a few days after leading British MPs called the ban an “orchestrated, politically-motivated move.” Accounts from the Free Speech Union (FSU) and the Daily Sceptic blog, which were frozen by Paypal without a clear explanation earlier this month have now been restored, according to its…
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