"PayPal will waive $30 million in processing fees for $1 billion in small business transactions as part of a new settlement with the Department of Justice (DOJ) signed on May 12."
"The settlement resolves a DOJ investigation into PayPal over a 2020 program that guaranteed a $530 million investment for Black and minority-owned businesses. The government claimed that the program was unlawful under the Equal Credit Opportunity Act, which bars credit discrimination based in part on race or ethnicity."
"PayPal will launch a new program for veteran-owned small businesses or those in farming, manufacturing, or technology. However, the settlement stipulates that PayPal admits to no wrongdoing and will not pay a separate fine to the federal government."
"“This Department of Justice is delivering on President Trump’s vow to root out illegal DEI from every corner of corporate America,” Acting Attorney General Todd Blanche said in a statement. Despite the Trump administration's claims, HR Brew has found that diversity, equity, inclusion, and belonging initiatives are still widespread throughout corporate America, even if they go by a different name."
PayPal will waive $30 million in processing fees for $1 billion in small business transactions as part of a settlement with the Department of Justice signed May 12. The settlement resolves a DOJ investigation into a 2020 program that guaranteed $530 million in investment for Black and minority-owned businesses. The government alleged the program was unlawful under the Equal Credit Opportunity Act, which prohibits credit discrimination based on race or ethnicity. PayPal will launch a new program for veteran-owned small businesses and businesses in farming, manufacturing, or technology. The settlement requires PayPal to admit no wrongdoing and pay no separate federal fine. The DOJ framed the outcome as removing illegal DEI from corporate America.
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