The Department of Justice is also not prohibited from bringing action against PayPal for any future violations of the Equal Opportunity Act.
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As part of the settlement, PayPal will launch a new Small Business Initiative and waive processing fees for $1 billion of transactions, or approximately $30 million, for American businesses that are veteran-owned or engaged in farming, manufacturing, or technology.
Acting Attorney General Todd Blanche released a statement touting the settlement with PayPal as an effort to root out “illegal DEI.” (Alex Wroblewski / AFP via Getty Images / Getty Images)
PayPal has also been instructed to inform employees on the Equal Credit Opportunity Act and provide an annual report on the initiative.
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In a statement to Fox News Digital, a PayPal spokesperson said, “For more than two decades, PayPal has helped small businesses start, scale, and thrive by expanding access to digital financial tools. We’re excited to launch the Small Business Initiative to infuse American small businesses with even more economic opportunity.”
Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division celebrated the decision as further effort by the Trump administration to eliminate discrimination among businesses.
PayPal issued a statement in support of its new Small Business Initiative. (Jonathan Raa/NurPhoto via Getty Images / Getty Images)
“With this settlement, PayPal agrees that race and national origin should play no part in determining which small businesses deserve its investment and financial support,” Dhillon said.
