PayPal will waive $30 million in processing fees for $1 billion in small business transactions as part of a new settlement with the Department of Justice (DOJ) signed on May 12.
The settlement resolves a DOJ investigation into PayPal over a 2020 program that guaranteed a $530 million investment for Black and minority-owned businesses. The government claimed that the program was unlawful under the Equal Credit Opportunity Act, which bars credit discrimination based in part on
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