PayPal to Pay $25 Million Over Illegal Online Credit Sign-upsCarter Dougherty
PayPal Inc. agreed to pay a $10 million penalty and provide wronged consumers with $15 million to settle a U.S. regulator’s claims that it illegally signed up customers for an online credit service.
PayPal deceptively advertised promotional benefits that it didn’t honor and didn’t seek permission from consumers before signing them up for a service formerly known as Bill Me Later, the Consumer Financial Protection Bureau said in a statement Tuesday.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Electric Buses Are Hurting the Oil Industry
- Why High-Flying U.S. Home Prices Seen Getting Another Jolt
- Stocks Push Higher; Dollar Reaches 3-Month Peak: Markets Wrap
- American Cities Are Fighting Big Business Over Wireless Internet, and They’re Losing
- Stocks Sink as Caterpillar, 3% Yields Rattle Bulls: Markets Wrap