Category: consumer financial protection bureau

PayPal sues US regulator over “confusing” prepaid card rules

[ad_1] The issue is that most PayPal users link their credit cards to their accounts to facilitate payments, in what the industry describes as a digital wallet. However, users can also store money in their PayPal account, which regulators say makes the accounts similar to prepaid credit cards. PayPal complains that regulations from the CFPB […]