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Reports alleged that PayPal would be fining users $2,500 for each case of ‘misinformation,’ but the digital banking company flatly denied it. Reuters responded to the reports that sparked numerous users were deleting their accounts.
“Social media users are saying they will be deleting their PayPal account after the company said on Monday that they issued an update saying that customers could be fined $2,500 in damages for sharing misinformation ‘in error’,” Reuters wrote.
“On October 10, Reuters reported a spokesperson for the company saying, ‘Paypal is not fining people for misinformation, and this language was never intended to be inserted in our policy. We’re sorry for the confusion this has caused.”
“No, PayPal Isn’t Planning To Fine Users $2.5K for Posting Misinfo,” Snopes claimed. “Here’s what you should know about a since-deleted document supposedly outlining changes to the platform’s user agreement.”
“However, users concerned about the purported change can relax; no such provision about misinformation is actually being added to the service’s User Agreement, according to a PayPal spokesperson,” Snopes said. “In an email to Snopes, the spokesperson said the document didn’t accurately reflect upcoming changes to the platform’s policies.”