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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."

1 of 228 comments (clear)

  1. 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.

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