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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. I want to have one of those. Burning, looting,... by dpilot · · Score: 0, Redundant

    Do you *really*? I suspect that most people thinking of that imagine themselves on the 'fun' (whatta sense of fun) end of the scale.

    But are you willing to take the chance of being dead? How about your wife, parents, kids, siblings, etc? When you talk of burning, you may be the one in flames, with someone else holding the match. You may be looted, and someone else doing the looting.

    Watch what you wish for.

    --
    The living have better things to do than to continue hating the dead.
  2. Re:Hurts paypal by geekoid · · Score: 1, Redundant

    you don't need to be a bank to handle money.

    your right though, this will hurt paypal. People put a lot more faith in a bank.

    --
    The Kruger Dunning explains most post on /. http://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect