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This is a silly complaint. You can't choose how to be regulated. I can't volunteer to have my software business regulated as a sewage treatment plant, or as a s
by dangrossman 14y ago
This is a silly complaint. You can't choose how to be regulated. I can't volunteer to have my software business regulated as a sewage treatment plant, or as a stock brokerage. PayPal isn't a bank so laws that regulate banks don't apply to them any more than they apply to Amazon Payments, Google Checkout or Stripe. However, the laws on money transfer organizations apply to them in all 50 states.
- rictic 14y agoI believe the charge is that they've done or avoided doing some very specific and otherwise natural things to avoid falling under banking regulation.