UPDATE: PayPal Backtracks, Rescinds Plan To Fine Users $2,500

  • PayPal has backtracked from a proposal, announced earlier this week, to fine users up to $2,500 for what it deems “misinformation.”
  • The move came after a backlash on Twitter, including a tweet from former PayPal executive David Marcus, who wrote: “It’s hard for me to openly criticize a company I used to love and gave so much to. But @PayPal’s new AUP goes against everything I believe in. A private company now gets to decide to take your money if you say something they disagree with. Insanity.”
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