Can you provide citations? I have read that paypal is regulated far less (in the USA), and I am fairly certain that paypal is not a bank in the USA. One exampl

Can you provide citations? I have read that paypal is regulated far less (in the USA), and I am fairly certain that paypal is not a bank in the USA. One example I can think of: a bank's customers can be plaintiffs in a class suit against the bank, but as of next month paypal's customers won't be able to be in one against paypal.