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CFPB Takes Action Against PayPal for Illegally Registering People for Excessive On The Web Credit

CFPB Takes Action Against PayPal for Illegally Registering People for Excessive On The Web Credit

PayPal to Refund $15 Million to customers and Spend $10 Million Fine

WASHINGTON, D.C. — Today the buyer Financial Protection Bureau (CFPB) filed a complaint and proposed permission order in federal court against PayPal, Inc. for illegally registering customers because of its credit that is online product PayPal Credit, previously referred to as Bill Me Later. The CFPB alleges that PayPal deceptively marketed marketing advantages so it neglected to honor, finalized customers up for credit without their authorization, made them make use of PayPal Credit in the place of their favored repayment technique, then mishandled payment disputes. Continue reading CFPB Takes Action Against PayPal for Illegally Registering People for Excessive On The Web Credit