PayPal Fined $150,000
 

I heard that and dont fell bad I hate those guys

ALBANY, New York (AP) -- The nation's largest online payment service, PayPal, is paying New York $150,000 in penalties after misrepresenting to consumers its policy on repayment when merchandise doesn't arrive, the state attorney general said Monday.

PayPal, which claims 40 million customers worldwide, had specifically stated that it provided the same rights and protections of a traditional credit card transaction, said Attorney General Eliot Spitzer. But consumers were often denied those rights, he said.

For example, consumers who didn't receive merchandise purchased through PayPal were often denied reimbursement from either PayPal or American Express or Discover credit cards. A spokeswoman for Spitzer said consumers complained they were being bounced between PayPal and their credit card companies and there was no prompt action.

The credit card firms agreed to properly credit consumers in an agreement with Spitzer late last year.

PayPal creates accounts for buyers and sellers using the Internet, including PayPal's parent, eBay, the Internet auction site. The service lets buyers and sellers exchange money through e-mail.

Besides the penalties, PayPal will pay New York state the investigation costs. The online payment service also will clearly describe consumer rights including conditions or limitations on their rights and refund policies.

Without the agreement, consumers using their credit cards through "e-payment" systems like PayPal would lose their protections under the federal Fair Credit Billing Act and similar state laws.

"Protecting consumer rights in online transactions is the best way to establish and maintain confidence in electronic commerce," Spitzer said.

PayPal has clarified that it will investigate any claims about a deal as long as the complaint is made within 30 days of the purchase.

What's 150k to some one that makes millions daily.





2k

paypal is probebly laughing....wtf is 150k? 1 hour of transactions...

ha.. just a slap on the wrist. They don't give a shit. Freeze 3k accounts tomorrow instead of 2k and they more then cover the fine.

I hope they get it balls deep in the ass for their fucked up exchange rates, too.

So when the adult industry has some shady business dealings everyone cracks down hard, now finally some of paypals shady shit is brought to light and they are getting off compartively light. Then again, if this is the beginning of a new trend, it may pile up after a while.

PayPal needs to DIE DIE DIE!!!

everyone so far is right - $150k is like fining a normal person a penny. no big deal.

too bad this case isn't related to the worst abuses they're guilty of. they still haven't been challenged on frozen accounts and other injustices.

I never seen them guys in my life but I keep experiencing strange de ja vu's today.

Started around 9AM and I answered the phone twice...

Very strange day.

paypal are assholes and i hate them, still i heard many stories of accounts frozen and mine was frozen too.

i sent all the papers they required , i yelled at them calling them scammers and threatening to send an army of lawyer. they appologised , explained why it was frozen, wich was obviously an attempt from them to keep the funds in case i didn't react, and they reactivated my account just a little bit after one month.


just to say that its possible to unfreeze a paypal account unless of course you are a real crook or run CP sites:Graucho

paypal make 150k within hours

was about time :Graucho

They might make this in few hours but I'm always happy to hear those fuckers paying fines.. My account was frozen too for no legit reasons saying BS that my account has probably been accessed by an unauthorized third party or some like shit.. they're scammers and they deserve to go down..

If they frozen your account and you have sent all the papers without received an answer from them you can allways fill a complain against them :)

https://www.truste.org/ its the best way to fuck them, trust me :winkwink:

Didn't paypal stop doing adult???

Good, keep them in check. I still have a couple sponsors paying though paypal.

PayPal, eBay's payment service stopped accepting payments for most adult-themed businesses on the Internet

Paypal,we fine you ONE HUNDRED and FIFTY THOUUUUSAND DOLLARS! http://www.nscollegeprep.cps.k12.il....es/dr.evil.jpg

good. its about time.

Glad to see they got at least a minor slap...hope this sets a precedence against them.

After what they did to us....It serves them right! :1orglaugh

:1orglaugh I actually saw that movie yesterday again

More like 5 minutes ...

The PR is bad though.

Can't say that PayPal has done anything wrong to me but from some of the stories i've read about i feel that they definetly deserve this, if not more. :2 cents:

It's not enough! :1orglaugh

yea.....paypal makes that much in about 5 mins. like they gave a fuck.
:2 cents:

That's nothing for PayPal. I am friends with the guys who started it. They're working on a new project as of about a month ago.

I must agree that its not alot for such a company

paypal locked my account like 5times... being a big company they are, i would think they would stop being cheap and buy a fucking 800 number??? it kinda pisses me off my father owns a small business and has an 800 number, yet PayPal is to cheap to pay for long distance calls that sorry fucks like me have to make every month because they lock accounts because im stupid and keep forgetting my "secure" password...

so secure that even i cant crack it :glugglug

It reminds me of a story about Bill Gates. It states that if he dropped a million dollars it would not be worth his time to reach down and pick it up! :1orglaugh

:1orglaugh :1orglaugh :1orglaugh

yeah, Paypal is owned by Ebay which is a billion dollar company. For them $150,000 is about 5 minutes worth of income.