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PayPal retracts plan to fine users $2500 for spreading misinformation

By Nithya Bose in US business news, posted October 10, 2022

PayPal has pulled back a published policy that would have fined users $2,500 for disseminating "misinformation," alleging that the update was issued in mistake.

The move follows a barrage of criticism on social media, notably from Elon Musk and another from the company's former executives.

The fines outlined on PayPal's website would have been imposed on users who "promote misinformation" or "present a risk to user safety or wellbeing."

The new policy was supposed to take effect on Thursday, November 3, but a company representative stated it was released "in error."

The statement said: “An AUP notice recently went out in error that included incorrect information.

“PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy.”

Former company president David Marcus tweeted: “It’s hard for me to openly criticize a company I used to love and gave so much to.

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“PayPal’s new AUP goes against everything I believe in. A private company now gets to decide to take your money if you say something they disagree with. Insanity.”

Mr Musk has also replied in the comments: “Agreed.”

The financial technology company says it has blocked users that promote "hate, violence, or discriminatory intolerance."

It has removed a group called "Gays Against Groomers" earlier this month, which LGBT advocates labeled a "hate group."

Source: New York Post

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