Justice Department Secures $30M Settlement with PayPal Over DEI Investment Program
· Texas Border Business
The U.S. Department of Justice has reached a $30 million settlement with PayPal Inc. following an investigation into a discriminatory investment program aimed at black and minority-owned businesses. As part of the settlement, PayPal will establish a new Small Business Initiative that does not consider race or national origin in its criteria. The initiative includes waiving processing fees for $1 billion in transactions for eligible veteran-owned and small businesses in farming, manufacturing, or technology. PayPal will also appoint a director for the initiative and provide training on the Equal Credit Opportunity Act to its employees.
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