PayPal to fine users $2,500 for ToS violations?

[Blazing Lazers]

It's never a good thing when I suddenly get messages from more than one person asking me about the same thing in the news. This time it was related to PayPal, from friends who know that I (used to) sell online. While PayPal already seems to have backtracked, this blew up pretty quickly online and it's very alarming that they would even consider doing something like this, let alone have it approved by multiple layers of management and legal people, as it surely must have been. Perhaps this corporate mentality of theirs is why their stock is down over half from the start of this year? In the few hours between this announcement and the retraction of it, I was seriously considering closing my accounts with them, and the following links are posted as a courtesy to everyone else that uses PayPal.

 

https://m.slashdot.org/story/405689

 

https://news.yahoo.com/paypal-policy-permits-company-fine-143946902.html

 

https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation

 

https://www.foxbusiness.com/economy/paypal-user-agreement-fining-users-promoting-misinformation-sent-error-spox-says

 

https://www.teslarati.com/elon-musk-agrees-with-fmr-president-paypal/

 

https://news.bitcoin.com/new-paypal-policy-lets-firm-fine-users-2500-for-spreading-misinformation-tos-condemned-and-called-an-abomination/

 

https://www.thestreet.com/technology/paypal-in-self-inflicted-trouble

[+OLD CS1]

Financial services across the board are beginning to implement the "manifest observable behavior" practice which Patreon pioneered in 2017 (a policy which was called "ahead of its time,") and was punished for by its users, years ago to kick people off the platform.  The only solution to this is to get your congresscritter involved.