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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."

2 of 228 comments (clear)

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

    PayPal is not a *good* bank. =)

  2. 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?!