Why doesn't this fall under the CFPB? The money is held in a bank account which ultimately belongs to the PayPal customer.
When I was in the prepaid card industry we held money for people in our bank account just like PayPal does. The bank held us to account for each of our customers. We accidentally prevented some people accessing thier finds for a few days due to a software glitch and had our asses handed to us. As we should have.
One lady was prevented from accessing her $200 for a few days and her lawyer extracted our maximum arbitration amount of $8000 from us.
Who said it wouldn't? Government action to vindicate consumer rights is generally complaint-based and not exclusive of private rights of action, so a private class action isn't evidence that a thing is not also within the enforcement jurisdiction of a government agency.
When I was in the prepaid card industry we held money for people in our bank account just like PayPal does. The bank held us to account for each of our customers. We accidentally prevented some people accessing thier finds for a few days due to a software glitch and had our asses handed to us. As we should have.
One lady was prevented from accessing her $200 for a few days and her lawyer extracted our maximum arbitration amount of $8000 from us.