Justice Department Secures $30M Settlement with PayPal Over Unlawful DEI Investment Program
Today, the Justice Department announced a settlement with PayPal Inc. to resolve a fair lending investigation into a discriminatory investment program created for black and minority-owned businesses. The settlement requires PayPal to launch a new Small Business Initiative that excludes criteria based on race, national origin, or other protected characteristics. As part of the initiative, PayPal will waive processing fees for $1 billion of transactions – a value of approximately $30 million – for eligible American small businesses that are veteran-owned or engaged in farming, manufacturing, or technology.
- Settlement Amount
- $30M
- Claim Deadline
- Not listed
- Status
- Monitoring
Justice Department Secures $30M Settlement with PayPal Over Unlawful DEI Investment Program
Summary
Today, the Justice Department announced a settlement with PayPal Inc. to resolve a fair lending investigation into a discriminatory investment program created for black and minority-owned businesses. The settlement requires PayPal to launch a new Small Business Initiative that excludes criteria based on race, national origin, or other protected characteristics. As part of the initiative, PayPal will waive processing fees for $1 billion of transactions – a value of approximately $30 million – for eligible American small businesses that are veteran-owned or engaged in farming, manufacturing, or technology.
Key Details
- Settlement Amount: $30M
- Deadline: Not listed
- Status: Monitoring
Important Information
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