News & Analysis as of

PayPal

PayPal’s Canadian Payments Processing Company Suffers Breach

PayPal has acknowledged that TIO, the Canadian payments processing company that it acquired in July 2017 has suffered a data breach that compromised the information of up to 1.6 million users. TIO processes utility and other...more

Data Privacy + Cybersecurity Insider - December 2017 #2

by Robinson & Cole LLP on

$64 Million in Bitcoin Stolen from NiceHash - Many are lamenting not purchasing bitcoin now that its value has skyrocketed. Recently, Massachusetts Secretary of State William Galvin warned investors to stay away from...more

Privacy Perils: PayPal Data Breach

by Bass, Berry & Sims PLC on

On December 1, PayPal disclosed that an ongoing investigation into identify security vulnerabilities identified a data breach that may have compromised personally identifiable information for roughly 1.6 million customers at...more

Court Allows Petitioner To Claim Unsubstantiated Deductions

by Fox Rothschild LLP on

The issue before the Tax Court in Huzella v. Commissioner, T.C. Memo. 2017-210, centered around a coin business on eBay, and whether the petitioner, Thomas Huzella, could substantiate his cost of goods sold and expense...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Representatives of the US’s biggest stock exchanges have questioned the SEC’s plan to change how markets work by altering the current “maker-taker” system and imposing new transparency and conflict-of-interest rules on...more

PayPal v. Pandora: Is Music Streaming Related to Financial Services?

PayPal, one of the world’s largest online payment companies, has brought a trademark infringement suit against Pandora Media, Inc., the provider of an online music streaming service and application. PayPal alleges that its...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

While Wall Street’s been waiting with bated breath for the big Snap IPO, Jose Cuervo (yes, that Jose Cuervo, via parent company Becle) has briefly stolen a bit of its public offering thunder with its plans to sell shares on...more

Mobile Payments: Exciting but Unknown

by Goulston & Storrs PC on

Mobile payment options are no longer the wave of the future. They are already here. It was projected that there would be almost 450 million mobile payment users worldwide by the end of 2016. These users generated $60 billion...more

New Social Payment Option Expands Reach of Bitcoin Users While Cutting Bitcoin Exchanges

by Goodwin on

Last week, Circle announced major changes to its application and platform. While many focused on Circle’s decision to cut its users’ ability to buy and sell Bitcoin, the breaking news may have been its decision to create a...more

Social Links: Yellow journalism rakes in cash; NYC law protects gig economy pay; Twitter suspends “alt-right” accounts

“Yellow journalism” websites are using social media to capitalize on popular ideology. And they’re making a bundle. New York City recently passed the country’s first law protecting the wages of “gig economy” workers. The...more

Taming the Bull Rider: Chancery Court Reining in Mootness Fee Awards in Merger Litigation

Last month, the Delaware Chancery Court drastically reduced – from $275,000 to $50,000 – a mootness fee award requested by plaintiffs’ counsel in a lawsuit challenging the merger between PayPal and Xoom Corporation, finding...more

Learning from Venmo’s Compliance Issues: How to Avoid Inadequate Privacy Disclosures

by Carlton Fields on

PayPal, the company responsible for the popular mobile payments app, Venmo, recently agreed to voluntarily bolster its privacy and security disclosures—and pay a $175,000 penalty—in response to an enforcement action brought...more

Private Bankrolling of Defamation and Privacy Suits

by LeClairRyan on

The New York Times recently reported that famed Silicon Valley investor and PayPal co-founder Peter Thiel has been secretly bankrolling “Hulk Hogan’s” (real name Terry Bollea) invasion of privacy suit against Gawker Media....more

Texas Settles with PayPal over Money Transfer App Advertising and Privacy Practices

by Kelley Drye & Warren LLP on

On Friday, Texas Attorney General Ken Paxton announced a settlement with PayPal, resolving allegations that its Venmo money transfer app violated the Texas Deceptive Trade Practices Act by failing to clearly disclose how...more

PayPal Reaches Settlement With Texas Over Venmo Privacy and Security Disclosures

by BakerHostetler on

Venmo is a peer-to-peer mobile payments service that PayPal acquired in 2013. Users can transfer money to another person using a mobile or web application (e.g., send money to a friend to split the cost of dinner). On May 20,...more

PayPal reaches settlement with Texas AG over privacy and security disclosures

PayPal agreed to pay $175,000 and strengthen its privacy and security disclosures in a settlement agreement reached with the Texas Attorney General’s office (the “AG’s office”). The AG’s office claimed that PayPal failed to...more

Thriving Through Transformation: How PayPal’s Emily Ward Used Her Network and Values to Define a Year

In 2015, Emily Ward, vice president and deputy general counsel at PayPal, was busy. Her itinerary included helping lead aspects of PayPal's separation from eBay, aiding PayPal's transition as its own company, organizing...more

Supreme Court To Resolve Circuit Split Over Bank Fraud Statute

On Monday April 25, the U.S. Supreme Court granted certiorari in United States v. Shaw, a closely watched case out of the Ninth Circuit addressing the bank fraud statute, 18 U.S.C. § 1344. That statute has two subsections,...more

U.S. Businesses Eye Cuban Market

by Clark Hill PLC on

The Obama Administration’s move to normalize relations with Cuba continues to spur commercial interest in the island. Despite the U.S. economic embargo on Cuba, regulatory changes announced by the U.S. Department of the...more

News of Note for the Internet-Minded – 1/29/16

It’s been a week when virtual reality news reigns supreme, with the technology shown off in medicine, film and entertainment, and as part of Apple’s future plans. The FCC has even suggested a spectrum designation for it. Oh,...more

Dead on Arrival

After noting at oral argument that the plaintiff’s TCPA claim was one of the “silliest” the court had ever encountered, the Ninth Circuit issued an order affirming dismissal of the plaintiff’s suit. Roberts v. Paypal, Inc.,...more

TCPA Trouble Continues: FCC Slams Lyft and First National Bank for Terms of Service Requiring Consent

by Ifrah PLLC on

Most of the attention involving the Telephone Consumer Protection Act (“TCPA”) has centered on the stream of class actions around the country. It is important to remember that the Federal Communications Commission (“FCC”) and...more

Russia’s new data law

by Dentons on

Russia’s new Data Localisation Law went live yesterday on 1 September. Many companies with operations in Russia are scratching their heads about how to comply. The Basics - The new law applies to businesses with a...more

Buried in the Fine Print—The FTC Addresses Prior Express Consent Under the TSR

by Perkins Coie on

In a July 14, 2015 letter to PayPal, the FTC indicated that consent language buried within a “lengthy user agreement” does not satisfy the requirement under the Telemarketing Sales Rule (TSR) that companies obtain prior...more

FTC Closes Investigation Involving Proposed Changes to PayPal’s Terms

by Kelley Drye & Warren LLP on

Earlier this year, PayPal announced planned changes to its User Agreement that would have, among other things, given the company broad rights to contact people by phone or text messages. The provision stated, in part...more

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Cybersecurity

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