For you paypal paying coin buyers

derryb

LINKY

TopographicOceans

OK, I'm a class member so I submitted a claim.

I bet in 3 years I'll get five free 30c credits when accepting a PP payment.

bigjpst

Darn, I have never had a hold on my account so I am not a class member. I guess I'll have to go figure out how to pay for that stick of gum elsewhere.

TopographicOceans

In the old days, PayPal was brutal.

They'd take money and people would have to fight to try and get it back.

The Consumer Financial Protection Bureau filed a complaint against PayPal on May 19, 2015. In the complaint, it alleged that PayPal was responsible for a myriad of sketchy practices, such as false advertising, refusing to provide consumers with information, and even signing consumers up for credit accounts without their knowledge.

PayPal settled up pretty quickly (as in, the very same day), agreeing to pay $15 million to consumers and another $10 million in fines to the CFPB. This applies to consumers more than merchants, but it’s still something that anyone who uses PayPal should be aware of.

Tomthecoinguy

Looks like this case has been going on for a while now, starting in 2010. Don't think you will need to wait 3 years for the payoff at this point, it is getting close. Also, if you had a large hold for an extended period of time it is not chump change, you could get up to 2k in cash based on what I am reading in the settlement doc following the link above.