DOJ, PayPal Reach $30 Million Settlement Over Race-Based Lending Fund
The Epoch Times
The Justice Department settled with PayPal for $30 million over a fund that allegedly violated anti-discrimination laws by extending preferences based on race.Summary
The Justice Department reached a $30 million settlement with PayPal Inc. on May 12, concluding a fair lending investigation into a program the department said violated federal anti-discrimination laws. The fund at the center of the DOJ's investigation was PayPal's Economic Opportunity Fund, introduced in 2020 with the stated purpose of channeling investment funds to black and minority-owned businesses primarily. The department stated that the program extended preferences to businesses on the basis of race, color, and national origin without being structured to remediate any identified, specific instance of past discrimination.
(Source：The Epoch Times)