PayPal Pays $30 Million to Settle DOJ Probe over 'DEI' Investment Program
PayPal will waive $30 million in fees for about $1 billion in transactions and replace race-based criteria with a new small-business program.
- On Tuesday, the U.S. Department of Justice reached a settlement with PayPal to resolve an investigation into a 2020 investment program that the department described as giving "unlawful" preferences to Black and minority-owned businesses.
- A federal civil rights investigation into PayPal's "Economic Opportunity Fund," launched in 2020, prompted the review because the Justice Department claimed the program used race and national origin as eligibility criteria without remedying specific past discrimination.
- PayPal will waive processing fees on roughly $1 billion worth of transactions for eligible small businesses as part of a newly created "Small Business Initiative," marking a significant action under the Trump administration's expanding crackdown on diversity, equity, and inclusion programs.
- Under the agreement signed Monday by PayPal CEO Enrique Lores, the company "expressly denies any liability," though Acting Attorney General Todd Blanche warned corporations will face "aggressive enforcement if you use race or national origin to discriminate against qualified Americans."
- While the Trump administration targets diversity practices, civil rights groups dispute that inclusion initiatives are unlawful, arguing they address historic inequities for marginalized groups including women, the LGBT community, and ethnic minorities.
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Justice Department forces PayPal to end DEI preferences in $30 million settlement
WASHINGTON — The Justice Department on Tuesday announced a $30 million settlement with PayPal Inc. to resolve allegations that the company’s 2020 Economic Opportunity Fund unlawfully discriminated against small businesses by favoring those owned by Black and minority entrepreneurs. The settlement requires PayPal to end race- and national origin-based criteria in its small business support… The post Justice Department forces PayPal to end DEI pre…
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DOJ Reaches Settlement With PayPal Over Minority-Focused Small Business Program
Agreement requires PayPal to create a new $30 million small business initiative after the Trump administration challenged the company’s prior diversity-focused funding efforts. The post DOJ Reaches Settlement With PayPal Over Minority-Focused Small Business Program first appeared on [your]NEWS.
PayPal reaches $30 million DOJ settlement over 2020 program for Black-owned businesses
PayPal will waive $30 million in processing fees for $1 billion in small business transactions as part of a new settlement with the Department of Justice (DOJ) signed on May 12. The settlement resolves a DOJ investigation into PayPal over a 2020 program that guaranteed a $530 million investment for Black and minority-owned businesses. The government claimed that the program was unlawful under the Equal Credit Opportunity Act, which bars credit d…
Trump DOJ Reaches Settlement with PayPal over 'Illegal DEI' Against Small Businesses
PayPal has agreed to create a new small business support program and waive processing fees worth $30 million after reaching a settlement with the Justice Department over practices the Trump Administration called "discriminatory" against white-owned small businesses and a form of "illegal DEI."
The Western Journal
Conservative AngleTrump Admin Nails PayPal on DEI - Company to Forfeit Millions for Discriminating Against Typical Americans
PayPal will have to lose $30 million to settle a Justice Department investigation that alleged PayPal was guilty of discrimination. The fair lending investigation said an investment program created in […] The post Trump Admin Nails PayPal on DEI - Company to Forfeit Millions for Discriminating Against Typical Americans appeared first on The Western Journal.
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