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> The proposed settlement states that the company will set up a $15m fund to compensate affected customers and pay a further $10m fine to the bureau. Why must
by rlpb 11y ago
> The proposed settlement states that the company will set up a $15m fund to compensate affected customers and pay a further $10m fine to the bureau.
Why must there be a fund? Paypal knows exactly who they gave the service to by default, and exactly what interest and other charges they received from them. So why can't they just be ordered to immediately return the full amount to each affected user?
- aeturnum 11y agoThat may be possible in this case, but the laws are written for the general case. The fund is an approach that allows users with grievances to get relief over a variety of mediums and timescales. Even here, who knows what data paypal has retained about who used the feature and when?
- rlpb 11y ago> Even here, who knows what data paypal has retained about who used the feature and when? They will have records of how they get their income for accounting and tax purposes. If they don't, I expect they'd be in far more trouble with the tax authorities.