CFPB Takes Action Against PayPal for Illegally Enrolling People for Excessive On The Web Credit
PayPal to Refund $15 Million to Consumers 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 for the online credit item, PayPal Credit, previously called Bill Me Later. The CFPB alleges that PayPal deceptively marketed marketing advantages so it didn’t honor, signed 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 Enrolling People for Excessive On The Web Credit”