product · May 16, 2026
PayPal Reaches $30 Million Settlement With Justice Department Over 2020 Economic Opportunity Fund
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PayPal agreed to a $30 million settlement with the Justice Department on May 13 2026 to resolve allegations of bias in its 2020 Economic Opportunity Fund that targeted $530 million for Black and minority-owned businesses. Under the agreement PayPal will launch the Small Business Initiative waiving processing fees on $1 billion in transactions for veteran-owned businesses in farming manufacturing or technology including AI enterprises. PayPal will appoint a director for the initiative assess small business needs and submit annual reports to the government. PayPal agreed to the $30 million fee waiver settlement with the Justice Department on May 13 2026.
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