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PayPal doesn't need FDIC insurance because it's not in the money lending business. In fact, to my knowledge, PayPal had no trouble weathering the financial melt
by KKKKkkkk1 10y ago
PayPal doesn't need FDIC insurance because it's not in the money lending business. In fact, to my knowledge, PayPal had no trouble weathering the financial meltdown of 2007, whereas many regulated banks went under and had to be bailed out.
- noway421 10y agoFDIC insurance is not only for financial meltdowns and saving customers money out of assets that deemed to be too risky. It would protect money if the whole PayPal would go down too. Which realistically probably wouldn't happen, but still insurance is insurance
- edoceo 10y agoPayPal does offer business line of credit. I see the damn interstitial ad every sign in
- Dylan16807 10y agoIs it definitely from PayPal? I have a credit line in the PayPal interface but it's actually from some other company.