![]() ![]() ![]() Basically, unless a PayPal transaction is funded with a credit card, the consumer has no recourse in the event of fraud by the seller. However, because PayPal is a payment intermediary and not otherwise regulated directly, TILA/Z and EFTA/E do not operate exactly as written once the credit/debit card transaction occurs via PayPal. EFTA/E is directed at consumer protection and provides strict error resolution procedures. 1693-1693r, as implemented by Regulation E, 12 C.F.R. Similarly, the legal relationship between a debit cardholder and the issuing bank is regulated by the Electronic Funds Transfer Act (EFTA) 15 U.S.C. TILA/Z requires specific procedures for billing errors, dispute resolution, and limits cardholder liability for unauthorized charges. 1601-1667f as implemented by Regulation Z, 12 C.F.R. These royalty-free high-quality Paypal Logo Vector Icons are available in SVG, PNG, EPS, ICO, ICNS, AI, or PDF and are available as individual or icon packs. Ordinarily, a credit card transaction, specifically the relationship between the issuing bank and the cardholder, is governed by the Truth in Lending Act (TILA) 15 U.S.C. design styles for web or mobile (iOS and Android) design, marketing, or developer projects. The most analogous regulatory source of law for PayPal transactions comes from peer-to-peer (P2P) payments using credit and debit cards. Although PayPal is not classified as a bank, the company is subject to some of the rules and regulations governing the financial industry, including Regulation E consumer protections and the USA PATRIOT Act. But state laws vary, as do their definitions of banks, narrow banks, money services businesses, and money transmitters. In the United States, PayPal is licensed as a money transmitter, on a state-by-state basis. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |