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Feds Rule PayPal Is Not A Bank

Posted by ryuzaki0 on from the repercussions dept.

dthable writes "CNet has posted an article update describing the Feds latest ruling - PayPal is not considered a bank. The article describes the effects of not being a bank which includes the lack of government regulations."

5 of 228 comments (clear)

  1. Perhaps what they meant was... by joshjs · · Score: 5, Funny

    PayPal is not a *good* bank. =)

  2. I wonder if PayPal picked these offices themselves by carlhirsch · · Score: 4, Funny

    From PayPalWarning.com...

    PayPal, Inc.
    11128 John Galt Blvd
    Omaha, NE 68137

    Subdivision planners reading Ayn Rand, apparently...

    -carl

    --
    . We've got computers, we're tapping phone lines, you know that ain't allowed - Talking Heads, "Life During Wartime"
  3. Re:PayPal should be considered . . . by mbrubeck · · Score: 5, Funny
    . . . a bank based on the "duck test."

    What, if it weighs the same as a duck, then it's a bank... and we can burn it?!

  4. Sorta like the crematorium in Georgia by mikosullivan · · Score: 3, Funny
    The crematorium in Georgia that wasn't officially defined as a crematorium, even though it did cremations, so it didn't have to follow cremation regulations.

    -Miko

    --
    Miko O'Sullivan
  5. Re:Banks by jsarek · · Score: 2, Funny

    Nice post. It takes a smart man to realize this, and a smarter man to realize that it should NEVER BE MENTIONED IN PUBLIC.

    Continue the charade.

    John Sarek