Free Republic

The story was shocking: As PJM’s Rick Moran stated Saturday, “The financial services company PayPal announced a controversial policy to deduct up to $2,500 from the accounts of users who spread ‘misinformation.’” But as the news of this astonishing plan circulated far and wide, PayPal experienced a swift backlash in the form of a blizzard of account cancellations, and quickly backed down, claiming that the announcement went out “in error” and adding: “PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy.” That’s terrific, or would be if it weren’t for...

October 10, 2022: Shares in PayPal are off more than 6% in early Monday trading after a massive internet campaign to cancel accounts went viral in response to the company's now-reversed policy that would fine users $2,500 if they were to allegedly promote "misinformation" or "hate." The company backpedaled on the line in their user agreement, which stated that for each violation, PayPal says users are subject to repercussions. Those include “liquated damages” of $2,500 per violation - with the money being taken directly from a person’s PayPal account. Users were directed to PayPal’s user agreement, which states in part...