La. asks PayPal to halt service in state
February 12th, 2002 by Larry Burton
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?
Email This Post
