PayPal Settles Suit and Simplifies Fine Print

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September 29, 2006 by Ty Tribble | 0 Comments

In a settlement with Ohio and 27 other states, the online-payment service PayPal has agreed to simplify its fine print.

Along with making its user agreement clearer, PayPal also will
keep users better informed about fraud protection. During the payment
process, the company will now explain how the company protects
customers against fraud, for example when a seller fails to deliver
goods paid for with PayPal.

Ohio attorney general Jim Petro (PEE’-troh) says the
settlement will ensure that consumers have relevant information about
how PayPal works.

The company will pay one-point-seven (m) million dollars to
the states to cover the costs of the investigation, and Ohio will
receive 102-thousand dollars.