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Issue:

Business

 

Written by:

Mark B

 

Date added:

December 24, 2014

 

Level:

University

 

Grade:

B

 

No of pages / words:

2 / 542

 

Was viewed:

1759 times

 

Rating of current essay:

 
Essay content:

PayPal has received written notices from state regulatory authorities saying that PayPal seems to constitute unauthorized banking business so PayPal has taken necessary steps to address these states' concerns. Increasingly, states have started enacting legislation regulating money transmitters. To date, PayPal has obtained license in 32 of these jurisdictions and interpretations in nine states that licensing is not required under their existing statutes...
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To date, PayPal has obtained license in 32 of these jurisdictions and interpretations in nine states that licensing is not required under their existing statutes. As a license money transmitter, PayPal is subject to bonding requirements, restrictions on its investment of customer funds, reporting requirements, and inspection by state regulatory agencies...
displayed 300 characters

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