Can PayPal be fined for misinformation?

There is no mechanism to fine users for misinformation. PayPal policy says users would be liable for damages only for activities related to fraud and illegal transactions. USA TODAY, Oct. 13, PayPal controversy: App backtracks on new policy to fine $2500 for misinformation

Can PayPal deduct $2500 from my account for misinformation?

Close you PayPal account. Their new Policy allows them to deduct $2500 from your account for misinformation. Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations. “PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy."

What happened to PayPal PYPL?

I cover fintech for Forbes' money team. After facing backlash earlier this month, PayPal PYPL +0.3% rescinded a line in its policy stating that spreading misinformation on the platform would be subject to a $2,500 fine.

Could PayPal's $2,500 fine be weaponized to control speech?

Unfortunately for PayPal, now that the $2,500 fine has landed in the public eye, it has fallen under close scrutiny. “Concerned about this language still in PayPal’s terms of service – it’s vague and seems like it could be weaponized to control speech,” Representative Tom Emmer (R - MN) wrote in a tweet on Thursday.