La. asks PayPal to halt service in state

It looks like Louisiana has shut down PayPal in their state. The article states that California and Idaho think PayPal may be a bank and therefore needs to be regulated by the state. New York and Louisiana have taken that one step farther and declared PayPal to be a bank and is threatening to fine them severly if they continue to operate in their states without being registered as a bank in their state. I’m scratching my head trying to figure out how they are any different than any other billing company doing business in this country. Why are they a bank?

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