US watchdog says PayPal illegally signed up customers for online credit and should be fined $25m

PayPal has been accused by the US consumer financial watchdog of illegally signing users up for a credit product without their permission, reports Reuters. The Consumer Financial Protection Bureau said in a complaint on Tuesday that the company engaged in deceptive advertising and enrolled customers into its PayPal Credit program. The watchdog filed a court order in Maryland to have PayPal refund $15 million to affected users and pay a $10 million fine to the CFPB’s civil penalty fund. Of course, a judge’s approval is required to get PayPal to cough up the dough and the company has neither admitted…

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