DOJ settles with PayPal over minority-business investment program for $30 million
The Justice Department announced a $30 million settlement with PayPal on Tuesday to resolve a federal investigation into the company's Economic Opportunity Fund, a 2020 program designed to invest in Black and minority-owned businesses. Under the settlement, PayPal will waive processing fees on $1 billion in transactions for eligible small businesses, specifically veteran-owned, farming, manufacturing, and technology companies, without regard to race or ethnicity. The DOJ alleged the original program violated the Equal Credit Opportunity Act by using race as a factor in distributing credit.
- ABC Newsfirst
- Washington Examiner+24 min
- The Hill+1.3 h
- Breitbart+47.7 h
Lightly covered so far
Too few outlets to map a left-right split. Here is each take as it stands.
“PayPal to give up $30M after DOJ accusations of bias in favor of minority-owned businesses”
“DOJ reaches $30 million deal with PayPal over minority-owned business program”
“DOJ forces PayPal to scrap DEI business initiative in $30 million settlement”