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Home»Fintech»Polish regulator takes aim at PayPal
Fintech

Polish regulator takes aim at PayPal

November 25, 2022No Comments1 Min Read
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Polish regulator takes aim at PayPal
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Poland’s competitors watchdog has initiated proceedings in opposition to PayPal over the usage of presumably prohibited contractual provisions.

The UOKiK regulator says it might nice PayPal as much as 10% of its turnover if it decides that there are issues with the cost big’s person settlement.

The watchdog takes challenge with three provisions of the settlement: a listing of prohibited actions; a listing of sanctions; and a ban on utilizing an account when it’s blocked or suspended.

Says an announcement: “Within the opinion of the President of the Workplace, the content material contained on this doc could also be opposite to good practices and result in gross disproportion of rights and obligations between the buyer and the entrepreneur.”

UOKiK says that prohibited actions have been described “imprecisely”.

In an announcement given to Reuters, PayPal says it “stays deeply dedicated to its compliance obligations” and works intently with regulators.

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See also  Wells Fargo to pay $3.7 billion over consumer loan violations
Aim PayPal Polish regulator takes
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