FTC Chairman Warns PayPal and Others to Comply with Customer Obligations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Should l Buy PYPL?
Federal Trade Commission Chairman Andrew N. Ferguson sent letters on Thursday to four major financial infrastructure platforms and payment providers reminding them of their obligations to their customers under the FTC Act. The letters issued to the CEOs of PayPal (PYPL), Stripe, Visa (V) and Mastercard (MA) raise concerns about publicly reported examples of financial services companies denying their customers access to services due to their political or religious views. "Full participation in commerce and public life necessarily requires that law-abiding individuals can access, and freely participate in, our financial system," Chairman Ferguson wrote. The letters warn the companies that any act or practice to deplatform customers or deny them access to financial products or services, or to facilitate such conduct by other companies, that is inconsistent with their terms of service or a customer's reasonable expectations may violate the FTC Act and could lead to an FTC investigation and potential enforcement action.
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Analyst Views on PYPL
Wall Street analysts forecast PYPL stock price to rise
29 Analyst Rating
6 Buy
19 Hold
4 Sell
Hold
Current: 45.200
Low
51.00
Averages
72.86
High
100.00
Current: 45.200
Low
51.00
Averages
72.86
High
100.00
About PYPL
PayPal Holdings, Inc. offers a technology platform. The Company’s products are designed to enable digital payments and simplify commerce experiences for consumers and merchants to make selling, shopping, and sending and receiving money simple, personalized, and secure, online or offline, including mobile. It provides consumers with a digital wallet that enables them to send payments to merchants securely using a variety of funding sources, which include a bank account, a PayPal or Venmo account balance, its consumer credit products, a credit card, a debit card, certain cryptocurrencies, or other stored value products. It operates a global, two-sided network at scale that connects consumers and merchants with 434 million active accounts across approximately 200 markets. Its brands include PayPal, Braintree, Venmo, Xoom, Hyperwallet, PayPal Zettle, PayPal Honey, and Paidy. It offers financing products through the PayPal Working Capital (PPWC) and PayPal Business Loan (PPBL).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Investor Action Recommendations: Investors can visit the Rosen Law Firm website or call the toll-free number for more information, emphasizing the importance of selecting qualified legal counsel to protect their interests and avoid inexperienced intermediaries.
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