PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards

84
8
Favorite

PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards

Bloomberg2021-07-30

(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau. The SEC is ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（8）

NatYong
·2021-07-30
The Federal Reserve is already weighing changes to its rules governing debit cards.
Reply
Like
Report
BabySim
·2021-07-30
Ok
Reply
3
Report
TraderBoss28
·2021-07-30
Ok
Reply
2
Report
Fold Replies
- BabySim:
  Ok
  2021-07-30
  Reply
  Report
KaiQING
·2021-07-30
Wo
Reply
2
Report
STSL
·2021-07-30
Please like. Thanks
Reply
3
Report
Pangabui
·2021-07-30
[微笑] [微笑] [微笑]
Reply
1
Report
Jdheng1
·2021-07-30
Please like
Reply
4
Report
Fold Replies
- Moiii:
  ok
  2021-07-30
  Reply
  Report
Jems90
·2021-07-30
Latest
Reply
4
Report
Fold Replies
- hui1234567:
  ok
  2021-07-30
  Reply
  Report
- bananafruit:
  Gd
  2021-07-30
  Reply
  Report
- Reefz:
  Latest
  2021-07-30
  Reply
  Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2155318217?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-07-30 09:05","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2155318217","market":"us","top_or_hot":-1,"title":"PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards","media":"Bloomberg","content":"<div>\n<p>(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-30 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PYPL","symbol_name":"PayPal","start_time":0,"source_url":"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html","article_id":"2155318217","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2155318217","pubTimestamp":1627607105,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Secu","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"PYPL":"PayPal"},"translate_title":"PayPal面临美国证券交易委员会调查借记卡背后向银行支付的费用","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PYPL":0.9},"content_text":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.\nPayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.\nPayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.\nSeparately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.\nThe SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.\nThe smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.\n“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”\nThe Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":808780272,"gmtCreate":1627610440796,"gmtModify":1703493309564,"author":{"id":"3580207321438450","authorId":"3580207321438450","name":"NatYong","avatar":"https://static.tigerbbs.com/62b1fa39b2974271d1c06e208f7b3571","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3580207321438450","idStr":"3580207321438450"},"htmlText":"The Federal Reserve is already weighing changes to its rules governing debit cards.","listText":"The Federal Reserve is already weighing changes to its rules governing debit cards.","text":"The Federal Reserve is already weighing changes to its rules governing debit cards.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808780272","repostId":2155318217,"repostType":4,"repost":{"id":"2155318217","pubTimestamp":1627607105,"share":"https://ttm.financial/m/news/2155318217?lang=&edition=fundamental","pubTime":"2021-07-30 09:05","market":"us","language":"en","title":"PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards","url":"https://stock-news.laohu8.com/highlight/detail?id=2155318217","media":"Bloomberg","summary":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Secu","content":"<p>(Bloomberg) -- <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.</p>\n<p>The SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.</p>\n<p>PayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.</p>\n<p>PayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.</p>\n<p>Separately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.</p>\n<p>The SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.</p>\n<p>The smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.</p>\n<p>“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase &amp; Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”</p>\n<p>The Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-30 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2155318217","content_text":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.\nPayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.\nPayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.\nSeparately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.\nThe SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.\nThe smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.\n“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”\nThe Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":808479932,"gmtCreate":1627608154926,"gmtModify":1703493237652,"author":{"id":"3579673211261157","authorId":"3579673211261157","name":"BabySim","avatar":"https://static.tigerbbs.com/5c6f0cd54fab9f24929e66e54e08e3aa","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":2,"crmLevelSwitch":1,"authorIdStr":"3579673211261157","idStr":"3579673211261157"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808479932","repostId":2155318217,"repostType":4,"repost":{"id":"2155318217","pubTimestamp":1627607105,"share":"https://ttm.financial/m/news/2155318217?lang=&edition=fundamental","pubTime":"2021-07-30 09:05","market":"us","language":"en","title":"PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards","url":"https://stock-news.laohu8.com/highlight/detail?id=2155318217","media":"Bloomberg","summary":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Secu","content":"<p>(Bloomberg) -- <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.</p>\n<p>The SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.</p>\n<p>PayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.</p>\n<p>PayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.</p>\n<p>Separately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.</p>\n<p>The SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.</p>\n<p>The smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.</p>\n<p>“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase &amp; Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”</p>\n<p>The Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-30 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2155318217","content_text":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.\nPayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.\nPayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.\nSeparately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.\nThe SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.\nThe smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.\n“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”\nThe Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":808444157,"gmtCreate":1627608071579,"gmtModify":1703493233375,"author":{"id":"4087368751013300","authorId":"4087368751013300","name":"TraderBoss28","avatar":"https://static.tigerbbs.com/4b15aebf8b95503b8c3ca1d2b37137cb","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"4087368751013300","idStr":"4087368751013300"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/808444157","repostId":2155318217,"repostType":4,"repost":{"id":"2155318217","pubTimestamp":1627607105,"share":"https://ttm.financial/m/news/2155318217?lang=&edition=fundamental","pubTime":"2021-07-30 09:05","market":"us","language":"en","title":"PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards","url":"https://stock-news.laohu8.com/highlight/detail?id=2155318217","media":"Bloomberg","summary":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Secu","content":"<p>(Bloomberg) -- <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.</p>\n<p>The SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.</p>\n<p>PayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.</p>\n<p>PayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.</p>\n<p>Separately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.</p>\n<p>The SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.</p>\n<p>The smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.</p>\n<p>“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase &amp; Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”</p>\n<p>The Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-30 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2155318217","content_text":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.\nPayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.\nPayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.\nSeparately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.\nThe SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.\nThe smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.\n“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”\nThe Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5374801,"gmtCreate":1627608149786,"gmtModify":1663231695538,"authorId":3579673211261157,"author":{"id":3579673211261157,"idStr":"3579673211261157","authorId":3579673211261157,"name":"BabySim","avatar":"https://static.tigerbbs.com/5c6f0cd54fab9f24929e66e54e08e3aa","vip":1,"currentWearingBadge":{"badgeId":"4e86300037264823b9bb00ff44fc0f19-2","templateUuid":"4e86300037264823b9bb00ff44fc0f19","name":"Live trading challenger","description":"for 4 months ","bigImgUrl":"https://community-static.tradeup.com/news/555a9001c6de2ba066c0850c80b6475a","smallImgUrl":"https://community-static.tradeup.com/news/acd8d1536c6533b9c274771f100401c4","grayImgUrl":"https://community-static.tradeup.com/news/1c254e1fa3d75a472d0f55ebb1dd1ff4","redirectLinkEnabled":0,"redirectLink":"https://www.tigerbrokers.com.sg/activity/market/2023/stock-contest?adcode=StockContest2023","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.03.03","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":5600},"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":808444157,"type":1,"supId":0,"prevId":0,"content":"<u>Ok</u>","text":"<u>Ok</u>","html":"<u>Ok</u>"}],"langContent":"EN"},{"id":808445380,"gmtCreate":1627608018140,"gmtModify":1703493233212,"author":{"id":"4090412213909750","authorId":"4090412213909750","name":"KaiQING","avatar":"https://static.tigerbbs.com/811a0407a50f920860fc236cb86b5544","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"4090412213909750","idStr":"4090412213909750"},"htmlText":"Wo","listText":"Wo","text":"Wo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808445380","repostId":2155318217,"repostType":4,"repost":{"id":"2155318217","pubTimestamp":1627607105,"share":"https://ttm.financial/m/news/2155318217?lang=&edition=fundamental","pubTime":"2021-07-30 09:05","market":"us","language":"en","title":"PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards","url":"https://stock-news.laohu8.com/highlight/detail?id=2155318217","media":"Bloomberg","summary":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Secu","content":"<p>(Bloomberg) -- <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.</p>\n<p>The SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.</p>\n<p>PayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.</p>\n<p>PayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.</p>\n<p>Separately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.</p>\n<p>The SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.</p>\n<p>The smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.</p>\n<p>“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase &amp; Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”</p>\n<p>The Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-30 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2155318217","content_text":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.\nPayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.\nPayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.\nSeparately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.\nThe SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.\nThe smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.\n“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”\nThe Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":808446952,"gmtCreate":1627607886476,"gmtModify":1703493228739,"author":{"id":"3586492916274801","authorId":"3586492916274801","name":"STSL","avatar":"https://static.tigerbbs.com/49e8aa4445808964ca4d2a2f3937956e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3586492916274801","idStr":"3586492916274801"},"htmlText":"Please like. Thanks","listText":"Please like. Thanks","text":"Please like. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808446952","repostId":2155318217,"repostType":4,"repost":{"id":"2155318217","pubTimestamp":1627607105,"share":"https://ttm.financial/m/news/2155318217?lang=&edition=fundamental","pubTime":"2021-07-30 09:05","market":"us","language":"en","title":"PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards","url":"https://stock-news.laohu8.com/highlight/detail?id=2155318217","media":"Bloomberg","summary":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Secu","content":"<p>(Bloomberg) -- <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.</p>\n<p>The SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.</p>\n<p>PayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.</p>\n<p>PayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.</p>\n<p>Separately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.</p>\n<p>The SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.</p>\n<p>The smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.</p>\n<p>“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase &amp; Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”</p>\n<p>The Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-30 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2155318217","content_text":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.\nPayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.\nPayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.\nSeparately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.\nThe SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.\nThe smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.\n“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”\nThe Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":808448819,"gmtCreate":1627607873631,"gmtModify":1703493227753,"author":{"id":"3570444284639989","authorId":"3570444284639989","name":"Pangabui","avatar":"https://static.tigerbbs.com/32b4b9242d9aab94ee79aaaf573818e8","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3570444284639989","idStr":"3570444284639989"},"htmlText":"[微笑]&nbsp;[微笑]&nbsp;[微笑]&nbsp;","listText":"[微笑]&nbsp;[微笑]&nbsp;[微笑]&nbsp;","text":"[微笑] [微笑] [微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808448819","repostId":2155318217,"repostType":4,"repost":{"id":"2155318217","pubTimestamp":1627607105,"share":"https://ttm.financial/m/news/2155318217?lang=&edition=fundamental","pubTime":"2021-07-30 09:05","market":"us","language":"en","title":"PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards","url":"https://stock-news.laohu8.com/highlight/detail?id=2155318217","media":"Bloomberg","summary":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Secu","content":"<p>(Bloomberg) -- <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.</p>\n<p>The SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.</p>\n<p>PayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.</p>\n<p>PayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.</p>\n<p>Separately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.</p>\n<p>The SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.</p>\n<p>The smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.</p>\n<p>“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase &amp; Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”</p>\n<p>The Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-30 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2155318217","content_text":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.\nPayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.\nPayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.\nSeparately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.\nThe SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.\nThe smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.\n“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”\nThe Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":808448096,"gmtCreate":1627607857515,"gmtModify":1703493227089,"author":{"id":"3581627855404547","authorId":"3581627855404547","name":"Jdheng1","avatar":"https://static.tigerbbs.com/9b35fda9ba795c0afd124edd5f6a698b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3581627855404547","idStr":"3581627855404547"},"htmlText":"Please like","listText":"Please like","text":"Please like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/808448096","repostId":2155318217,"repostType":4,"repost":{"id":"2155318217","pubTimestamp":1627607105,"share":"https://ttm.financial/m/news/2155318217?lang=&edition=fundamental","pubTime":"2021-07-30 09:05","market":"us","language":"en","title":"PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards","url":"https://stock-news.laohu8.com/highlight/detail?id=2155318217","media":"Bloomberg","summary":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Secu","content":"<p>(Bloomberg) -- <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.</p>\n<p>The SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.</p>\n<p>PayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.</p>\n<p>PayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.</p>\n<p>Separately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.</p>\n<p>The SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.</p>\n<p>The smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.</p>\n<p>“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase &amp; Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”</p>\n<p>The Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-30 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2155318217","content_text":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.\nPayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.\nPayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.\nSeparately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.\nThe SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.\nThe smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.\n“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”\nThe Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5374776,"gmtCreate":1627608019184,"gmtModify":1663231696031,"authorId":4089265076518760,"author":{"id":4089265076518760,"idStr":"4089265076518760","authorId":4089265076518760,"name":"Moiii","avatar":"https://static.tigerbbs.com/613480a95826a2f17b864d65a0a70fd2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":808448096,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"}],"langContent":"EN"},{"id":808451822,"gmtCreate":1627607444866,"gmtModify":1703493210783,"author":{"id":"4089010904436180","authorId":"4089010904436180","name":"Jems90","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"4089010904436180","idStr":"4089010904436180"},"htmlText":"Latest","listText":"Latest","text":"Latest","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/808451822","repostId":2155318217,"repostType":4,"repost":{"id":"2155318217","pubTimestamp":1627607105,"share":"https://ttm.financial/m/news/2155318217?lang=&edition=fundamental","pubTime":"2021-07-30 09:05","market":"us","language":"en","title":"PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards","url":"https://stock-news.laohu8.com/highlight/detail?id=2155318217","media":"Bloomberg","summary":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Secu","content":"<p>(Bloomberg) -- <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.</p>\n<p>The SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.</p>\n<p>PayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.</p>\n<p>PayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.</p>\n<p>Separately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.</p>\n<p>The SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.</p>\n<p>The smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.</p>\n<p>“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase &amp; Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”</p>\n<p>The Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Faces SEC Probe of Fees Paid to Bank Behind Debit Cards\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-30 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://finance.yahoo.com/news/paypal-faces-sec-probe-fees-215805575.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2155318217","content_text":"(Bloomberg) -- PayPal Holdings Inc. dropped after it said it’s facing probes from both the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.\nThe SEC is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, the San Jose, California-based company said Thursday in a quarterly regulatory filing. The agency is also investigating how PayPal reports marketing fees earned from its branded-card program.\nPayPal has responded to subpoenas and requests for information it received from the SEC’s enforcement division and is cooperating with the investigation, according to the filing.\nPayPal shares fell 1% to $280.25 at 5:27 p.m. in late trading in New York.\nSeparately, PayPal said it received a civil investigative demand from the CFPB in connection to the marketing and use of PayPal Credit in connection with merchants that provide educational services. The regulator asked PayPal to produce documents, written reports and answers to written questions. The company said it is cooperating.\nThe SEC’s investigation into debit-card interchange rates -- or the fees merchants pay banks each time a consumer swipes a card -- is centered on the Fed’s Regulation II, according to the filing. That regulation requires banks to put two unaffiliated networks on every debit card they issue; retailers are then supposed to have the ability to choose which network handles a transaction.\nThe smallest U.S. banks -- or those with under $10 billion in assets -- are exempt from the regulation. That drew criticism from bigger banks, which have argued that tech players will partner with small community lenders to reap the bigger fees and get an unfair advantage.\n“There are examples of unfair competition which we will do something about eventually, people who make a lot more on debit because they operate under certain things, the only reason they can compete is because of that,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon warned in January. “You can expect that there will be other battles that take place here.”\nThe Federal Reserve is already weighing changes to its rules governing debit cards. The central bank in May asked for public comment on an amendment that would require banks to make sure two payment networks are available for online purchases.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5374700,"gmtCreate":1627607680887,"gmtModify":1663231696832,"authorId":4087899267516000,"author":{"id":4087899267516000,"idStr":"4087899267516000","authorId":4087899267516000,"name":"hui1234567","avatar":"https://static.tigerbbs.com/f1ef5eb26f8ef01d38bcf417264003a1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":808451822,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"},{"id":5374723,"gmtCreate":1627607760149,"gmtModify":1663231696028,"authorId":3581583439142650,"author":{"id":3581583439142650,"idStr":"3581583439142650","authorId":3581583439142650,"name":"bananafruit","avatar":"https://static.tigerbbs.com/4f58151b71d449711486ea1e300e563e","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":808451822,"type":1,"supId":0,"prevId":0,"content":"Gd","text":"Gd","html":"Gd"},{"id":5374712,"gmtCreate":1627607724060,"gmtModify":1663231695847,"authorId":3585480749857931,"author":{"id":3585480749857931,"idStr":"3585480749857931","authorId":3585480749857931,"name":"Reefz","avatar":"https://static.tigerbbs.com/1b12ebcf5c5742ce19672009f2981ab1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":808451822,"type":1,"supId":0,"prevId":0,"content":"<u>Latest</u>","text":"<u>Latest</u>","html":"<u>Latest</u>"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":84,"commentSize":8,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}