elgato
Joined: 24 Feb 2005
Posts: 17241
Location: Texas
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| Posted: Tue Oct 03, 2006 11:10 am Post subject: PayPal to Increase Disclosure |
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EBay's PayPal unit announced Thursday that it agreed to provide clearer information about the extent of fraud protection offered by the online payment service and pay $5.2 million in separate settlements with consumers and with 28 state attorneys general, including California's.
The agreement comes after years of complaints lodged against PayPal for issues ranging from frozen accounts to unauthorized withdrawals from users' banks.
``We've voluntarily entered into this agreement and have already complied with many of its terms,'' said PayPal spokeswoman Amanda Pires.
Tom Dresslar, a spokesman for California Attorney General Bill Lockyer, said their office had received more than 200 complaints about PayPal over the last two years. As of June 30, PayPal users had registered 114 million accounts.
The attorneys general did not file suit against eBay, but instead sought assurances that PayPal would change its practices.
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