.PayPal warned over speech restrictions by powerful financial regulator
A top financial regulator and liberal ally of Sen. Elizabeth Warren said he was considering investigating PayPal for a policy, now retracted, allowing the company to fine users $2,500 for spreading"misinformation."
"I've never actually never heard of a payment system thinking that it could fine someone for legal expression that their users are making," Chopra said during a Wednesday appearance on CNBC. Well this is different. Consumer Financial Protection Bureau chief Rohit Chopra is concerned about PayPal and big tech kicking people off their platforms and/or fining them for lawful behavior. @chopracfpb pic.twitter.com/yptvU89emE"We have ordered most of the Big Tech firms for information about how they are making decisions about who they kick off their platforms," Chopra added."But we also need to look into whether they believe they can be fining users for illegal activity.
PayPal said that the policy update was an error on Sunday."An AUP notice recently went out in error that included incorrect information," a PayPal spokesperson said."PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. Our teams are working to correct our policy pages. We're sorry for the confusion this has caused.
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