A new <a href="https://judiciary.house.gov/sites/evo-subsites/republicans-judiciary.house.gov/files/evo-media-document/How-Federal-Law-Enforcement-Commandeered-Financial-Institutions-to-Spy.pdf" target="_blank" rel="noopener">report</a> from the Select Subcommittee on the Weaponization of the Federal Government finds that federal law enforcement agencies asked major banks to monitor customers who oppose gun control and support strong border policies. The agencies equated these conservative views with potential “violent extremism.”
The investigation into the federal government’s surveillance of Americans’ financial activities <a href="https://judiciary.house.gov/media/in-the-news/house-gop-investigating-bank-america-voluntarily-giving-fbi-list-customers" target="_blank" rel="noopener">began</a> in May 2023, after House Republicans discovered that Bank of America had voluntarily turned customer data over to the feds in connection with the January 6, 2021 Capitol protests.
At that time, FBI whistleblowers alleged that BofA had given the agency records from a “huge list” of customers who were in Washington D.C. on or around that date or who used a debit or credit card to purchase a firearm around that time. The whistleblowers claimed these actions were taken was without warrants, probable cause, or any of the constitutional protections that would be typically required.
After a year-long investigation, the committee found that the FBI worked with not only BofA, but many other financial institutions like Barclays, U.S. Bank, Charles Schwab, HSBC, and PayPal who voluntarily shared private customer banking records “with federal law enforcement outside of normal legal process.” The feds were particularly interested in purchases from sporting goods stores like Cabela’s and Bass Pro Shops that sell firearms. The investigation also found that the FBI and other agencies flagged “Trump,” “MAGA,” “Bible” and other right-coded terms for banks to search in the transactions of customers who were not suspected of committing any crime. In one guidance, the agency said buying &#8220;religious texts&#8221; could be an indication of &#8220;extremism.&#8221;
Perhaps the most explosive revelation centers on an intelligence document titled “Domestic Violent Extremists Likely Emboldened in Aftermath of Capitol Breach” that the FBI, the Department of Homeland Security, and the National Counterterrorism Center shared with about 650 private financial institutions. In it, the agencies identify certain viewpoints they say could correspond with being a violent extremist. It includes opposition to gun control legislation, support for measures to control the border and crack down on illegal immigration, opposition to COVID-19 lockdowns and vaccine mandates, and a belief in the existence of a deep state. The agencies asked the financial institutions to search customer transaction records for evidence of these beliefs and share that data with them. They also created a secret portal for a select group of major banking institutions that allowed for ongoing backchannel information sharing.
<h4><a href="https://www.dailywire.com/podcasts/morning-wire/state-of-the-union-national-guard-in-ny-subway-3-8-24" target="_blank" rel="noopener">LISTEN: Hear the full report from the House Weaponization Hearing on Morning Wire</a></h4>
In essence, the subcommittee says that the FBI and other federal law enforcement agencies have weaponized financial institutions against conservatives. As the House report put it, “support for typical conservative policies…may result in an individual being labeled by the FBI as [domestic violence extremist] “Likely to Pose [an] Increasing Threat at Lawful Protests, Rallies, [and] Demonstrations.”
During a March 7 hearing related to these findings, subcommittee chair Jim Jordan (R-OH) said the message federal authorities are sending is “if you’ve got the wrong political beliefs, you’re potentially a domestic violent extremist.”
“We&#8217;ve seen the censorship, now we see what&#8217;s happening with big banks and big government relative to your financial data,” Jordan said. “Again, all this being done with no process, no warrant, no notification to the customer that the banks are actually supposed to serve. Big government&#8217;s not supposed to use big tech to censor Americans, and big government shouldn&#8217;t be working with big banks to target Americans for behavior that is legal and constitutional.”
In response to these revelations, Congresswoman Elise Stefanik (R-N.Y.) has introduced the “Protecting Privacy in Purchases Act.” The bill would ban banks and credit card companies from using a code to track gun purchases, something she says would create a “backdoor gun registry.”
However, the bill would not address the broader terms the FBI and other agencies were asking banks to search, and it is not yet clear how or if Republicans will respond to those issues legislatively.
Brian Knight, Senior Research Fellow at the Mercatus Center at George Mason University, said during the hearing the Weaponization Committee should be strategizing about how to protect Americans from unconstitutional financial data collecting at the bank-level. “I think that efforts to efforts to restrict the collection of data at the bank level are the best option we have currently,” he testified. “Because under current law, once the bank has that data, government has that data. So preventing the collection at the bank level is your first best option.”
Jordan Peterson, who is a Daily Wire personality, also testified at the March 7 hearing, warning that the practices the FBI and other federal agencies are currently involved in can quickly lead to a Chinese-style social credit system, where people with disfavored views find it very difficult to carry out financial transactions.
“This allows you purposefully to be shut out of all activities that can be virtualized,” he warned. “And in a rapidly virtualizing world, this increasingly means all activities. Driving, shopping, working, eating, finding shelter. Even fraternizing with friends and family. As merely being in the presence of someone with a low social credit score means that your own score can be lowered.”
He added that this is “precisely the payment system most desired by the most tyrannical.”
* * *
Listen to the full report on <a href="https://www.dailywire.com/podcasts/morning-wire/state-of-the-union-national-guard-in-ny-subway-3-8-24">Morning Wire</a>.

House Judiciary Holds Hearing Examining The Weaponization Of The Federal Government

Feds Equate Typical Conservative Views With ‘Violent Extremism’ In Financial Surveillance, House Weaponization Committee Finds

Feds Equate Typical Conservative Views With 'Violent Extremism' In Financial Surveillance, House Weaponization Committee Finds

Bank of America

Banking

Biden Administration

Conservatives

Jim Jordan

PayPal

Readers Pass

Surveillance

Weaponization

<a href="http://dailywire.com/topic/paypal" target="_blank" rel="noopener">PayPal</a> CEO Dan Schulman announced that he would retire from the financial services <a href="http://dailywire.com/topic/big-tech" target="_blank" rel="noopener">platform</a> at the end of the year.
Schulman, who will continue to serve on the company’s board of directors, said that he wants to devote more time to his “passions outside the workplace.” He became the company’s chief executive in 2014 after a stint as enterprise growth president at American Express.
&#8220;I&#8217;m proud of what we have accomplished at PayPal and of the incredibly talented and committed people I work with every day,” he said in a <a href="https://www.prnewswire.com/news-releases/president-and-ceo-dan-schulman-announces-intention-to-retire-from-paypal-at-year-end-301743529.html" target="_blank" rel="noopener">statement</a>. “Together, we have reimagined financial services and e-commerce, and worked to improve the financial health of our customers. PayPal makes a difference every day for its customers and communities and the company is positioned for a great future.”
The retirement comes months after PayPal, which has deplatformed multiple organizations and commentators for their political views, had <a href="https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation" target="_blank" rel="noopener">unveiled</a> an upcoming change to its acceptable use policy that would have banned the promotion of “misinformation,” as well as “hate, violence, racial or other forms of intolerance that is discriminatory.” Within one day of The Daily Wire reporting on the policy change, which would have imposed $2,500 penalties on users for each violation, PayPal <a href="https://www.dailywire.com/news/paypal-reverses-plan-to-fine-users-2500-for-misinformation-after-daily-wire-report" target="_blank" rel="noopener">claimed</a> that the guidelines were published “in error.”
PayPal lost $6 billion in valuation during a subsequent stock market <a href="https://www.dailywire.com/news/breaking-paypal-stock-plummets-after-daily-wire-report-exposes-shocking-misinformation-policy" target="_blank" rel="noopener">selloff</a> as thousands of users canceled their accounts. An <a href="https://www.dailywire.com/news/paypal-ceos-interview-with-world-economic-forum-could-suggest-mentality-behind-backtracked-misinformation-penalty" target="_blank" rel="noopener">interview</a> between Schulman and the World Economic Forum published months earlier showed that the executive&#8217;s approach to business had long involved moving the needle on social issues as well as earning profits.
“Trust extends well beyond whether you deliver an excellent product or service. Doing that is very necessary, but it’s not sufficient,” asserted Schulman, who currently serves on the World Economic Forum’s International Business Council and Board of Governors. “To be a company that embodies trust, your mission and values should make it clear that you stand for more than just maximizing profit. That you stand up for social issues that are important, and you do the right things to help create a better world.”
The World Economic Forum is a leading proponent of <a href="https://www.dailywire.com/news/esg-the-invisible-fist-of-the-economy" target="_blank" rel="noopener">stakeholder capitalism</a>, an approach to investing that encourages executives to consider the needs of employees, communities, and other parties in addition to shareholders, and the use of <a href="https://www.dailywire.com/news/get-woke-go-broke-amazon-installed-solar-panels-in-an-attempt-to-go-net-zero-they-kept-catching-fire-and-were-turned-off" target="_blank" rel="noopener">corporate power</a> to advance political agendas in the global economy. “Saying that you have values and not acting on them is worse than not having any values,” Schulman continued. “That’s what causes employees to revolt, that’s how you sow distrust with customers or regulators.”
Among the many <a href="https://www.dailywire.com/news/elon-musk-former-paypal-exec-led-backlash-before-paypal-abandoned-alleged-plan-to-fine-users-2500-for-misinformation" target="_blank" rel="noopener">critics</a> of the PayPal misinformation policy were David Sacks, the company’s former president, and Elon Musk, who co-founded one of the firms which would later become PayPal. Members of the Senate likewise requested more information about the retracted acceptable use policy in a <a href="https://www.dailywire.com/news/senators-confront-paypal-on-misinformation-policy-highlighted-by-daily-wire-report" target="_blank" rel="noopener">letter</a> sent to Schulman.
“Greater encroachment by large technology and financial companies into public speech will only exacerbate Americans’ increasing mistrust of such institutions,” the lawmakers wrote. “Policies that empower companies to punish individuals’ beliefs by acting as arbiters of fact in our ever-changing news and public debate environment represent poor business decisions. Instead, large technology and financial institutions should focus on serving the needs of their customers without bias.”

Opening Day Of The World Economic Forum (WEF) 2022

PayPal CEO Dan Schulman Announces Resignation Months After Controversial ‘Misinformation’ Policy

PayPal CEO Announces Resignation Months After Controversial ‘Misinformation’ Policy

Big Tech

Business

Economy

World

World Economic Forum

Social media users are circulating incorrect reports which claim that <a href="http://dailywire.com/topic/paypal" target="_blank" rel="noopener">PayPal</a> brought back a retracted attempt to sanction users $2,500 for spreading “misinformation” through the platform, as highlighted by a <a href="https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation" target="_blank" rel="noopener">report</a> from The Daily Wire.
PayPal, which has deplatformed multiple organizations and commentators for their political views, had released an upcoming change to its acceptable use policy that would have banned the promotion of “misinformation,” as well as “hate, violence, racial or other forms of intolerance that is discriminatory.” Within one day of The Daily Wire reporting on the policy change, PayPal <a href="https://www.dailywire.com/news/paypal-reverses-plan-to-fine-users-2500-for-misinformation-after-daily-wire-report" target="_blank" rel="noopener">claimed</a> that the guidelines were published “in error.”
Citing a provision in the PayPal user agreement, <a href="https://gritdaily.com/pr-crisis-paypal/" target="_blank" rel="noopener">multiple</a> <a href="https://beckernews.com/fact-checkers-called-it-misinformation-but-paypal-sneaked-2500-fines-on-users-back-into-its-terms-of-service-47639/">reports</a> <a href="https://www.latestly.com/socially/world/icymi-paypal-has-reinstated-its-2500-fine-for-misinformation-latest-tweet-by-disclose-tv-4383722.html">claimed</a> that the policy has been quietly reinstated. However, neither the user agreement nor the acceptable use policy has been amended to include the nixed provisions, according to a review of internet archives conducted by The Daily Wire, which also confirmed the findings with a PayPal spokesperson.
The present <a href="https://www.paypal.com/us/webapps/mpp/ua/useragreement-full" target="_blank" rel="noopener">user agreement</a> had already enumerated that $2,500 sanctions can be applied to accounts found in violation of the <a href="https://www.paypal.com/us/legalhub/acceptableuse-full" target="_blank" rel="noopener">acceptable use policy</a>. The company says that the amount is a “reasonable minimum estimate” for actual damages induced by internal administrative costs to monitor violations, damage to brand reputation, and penalties from business partners.
The acceptable use policy currently bans users from using PayPal for activities which involve various legal infractions, such as infringement of trademarks, sale of narcotics or stolen goods, and certain types of weapons. However, PayPal also retains the “sole discretion” to take action against “items that are considered obscene,” certain “firearm parts or accessories,” or “the promotion of hate, violence, racial or other forms of intolerance that is discriminatory.”
Meanwhile, the user agreement lists the spreading of “false, inaccurate or misleading information” as a restricted activity and has done so for at least <a href="https://archive.ph/ZySjp" target="_blank" rel="noopener">eight years</a>. Those who conduct their business in a manner that results in or could result in “complaints” may also incur the $2,500 penalty.
Beyond denying that the misinformation penalty was ever meant to be enforced, PayPal justified the move by noting that the company has long withdrawn $2,500 from users’ accounts after each violation of the acceptable use policy. After seven members of the Senate noted in a recent <a href="https://www.dailywire.com/news/senators-confront-paypal-on-misinformation-policy-highlighted-by-daily-wire-report" target="_blank" rel="noopener">letter</a> to PayPal CEO Dan Schulman that the current list of prohibited activities largely entails breaches of law, they added that “a vague prohibition on spreading ‘misinformation’ not only would have concerningly expanded the scope of punishable actions, but also would have decreased clarity and increased subjectivity” within the prohibited activities list.
PayPal trended on social media after the new acceptable use policy gained nationwide attention earlier this month, leading thousands of customers to express their disdain for the move and cancel their accounts. The company’s stock price <a href="https://www.dailywire.com/news/breaking-paypal-stock-plummets-after-daily-wire-report-exposes-shocking-misinformation-policy" target="_blank" rel="noopener">fell precipitously</a> in trading as the unease among consumers appeared to startle investors.
Other platforms, such as <a href="https://www.dailywire.com/news/the-end-of-conservative-books-amazon-quietly-bans-books-they-deem-offensive-hate-speech" target="_blank" rel="noopener">Amazon</a>, <a href="https://www.dailywire.com/news/allie-beth-stuckey-suspended-from-twitter-after-challenging-fox-news-segment-that-went-viral" target="_blank" rel="noopener">Twitter</a>, and <a href="https://www.dailywire.com/news/meta-doubles-down-after-zuckerberg-reveals-how-facebook-censored-hunter-biden-laptop-story" target="_blank" rel="noopener">Facebook,</a> have sanctioned conservatives over their positions on controversial social issues, including transgenderism, vaccine mandates, and homosexuality. <a href="https://www.dailywire.com/news/what-gofundmes-trucker-convoy-targeting-says-about-tech" target="_blank" rel="noopener">GoFundMe</a> seized millions raised for trucker protests in Canada earlier this year, while <a href="https://www.dailywire.com/news/democrat-senator-happy-about-getting-google-to-suppress-crisis-pregnancy-centers" target="_blank" rel="noopener">Google</a> recently began suppressing search results for crisis pregnancy centers.

In this photo illustration, the American online payment

No, PayPal Didn’t Bring Back Its $2,500 Misinformation Penalty, But They Still May Fine You For Other Concerning Reasons

PayPal Did Not Resurrect $2,500 Misinformation Penalty

Free Speech

Misinformation

Members of the <a href="http://dailywire.com/topic/u-s-senate" target="_blank" rel="noopener">Senate</a> requested more information from <a href="http://dailywire.com/topic/paypal" target="_blank" rel="noopener">PayPal</a> about a retracted attempt to sanction users $2,500 for spreading “misinformation” through the platform, as highlighted by a <a href="https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation" target="_blank" rel="noopener">report</a> from The Daily Wire.
PayPal, which has deplatformed multiple organizations and commentators for their political views, had unveiled an upcoming change to its acceptable use policy that would have banned the promotion of “misinformation,” as well as “hate, violence, racial or other forms of intolerance that is discriminatory.” Within one day of The Daily Wire reporting on the policy change, PayPal <a href="https://www.dailywire.com/news/paypal-reverses-plan-to-fine-users-2500-for-misinformation-after-daily-wire-report" target="_blank" rel="noopener">claimed</a> that the guidelines were published “in error.”
Citing the report from The Daily Wire, Sen. Tom Tillis (R-NC), Sen. Pat Toomey (R-PA), and five Republican colleagues pressed PayPal CEO Dan Schulman in a <a href="https://www.tillis.senate.gov/services/files/3BABFD35-8B5B-41C9-A97F-08C4F160B9BB" target="_blank" rel="noopener">letter</a> asking him to explain the “processes and values” in place that allowed the retracted policy to move forward.
“PayPal has consistently spread the dubious claim that this provision was ‘never intended to be inserted in our policy’ as stated by a company spokesperson,” the lawmakers wrote. “If accurate, this statement indicates an astonishing lack of internal oversight at PayPal.”
The company also defended its position by claiming that PayPal had long held the policy of withdrawing $2,500 from users’ accounts after each violation of the acceptable use policy. After the lawmakers noted that the current list of prohibited activities largely entails breaches of law, they pointed out that the “addition of a vague prohibition on spreading ‘misinformation’ not only would have concerningly expanded the scope of punishable actions, but also would have decreased clarity and increased subjectivity” within the prohibited activities list.
A spokesperson for Sen. Steve Daines (R-MT) told The Daily Wire that PayPal has not yet provided responses to the lawmakers’ inquiries, which they requested by October 28.
PayPal trended on social media after the new acceptable use policy garnered public attention earlier this month, leading thousands of customers to voice their rejection of the move on social media and cancel their accounts. The company’s stock price <a href="https://www.dailywire.com/news/breaking-paypal-stock-plummets-after-daily-wire-report-exposes-shocking-misinformation-policy" target="_blank" rel="noopener">fell precipitously</a> in subsequent trading as the backlash appeared to startle investors.
The lawmakers requested information about internal processes at PayPal for drafting and vetting acceptable use policy updates, the identity of the party which drafted the misinformation and hate speech clause, and the degree to which users can be confident that they will not be punished for the spread of what PayPal unilaterally determines to be misinformation.
Other platforms, such as <a href="https://www.dailywire.com/news/the-end-of-conservative-books-amazon-quietly-bans-books-they-deem-offensive-hate-speech" target="_blank" rel="noopener">Amazon</a>, <a href="https://www.dailywire.com/news/allie-beth-stuckey-suspended-from-twitter-after-challenging-fox-news-segment-that-went-viral" target="_blank" rel="noopener">Twitter</a>, and <a href="https://www.dailywire.com/news/meta-doubles-down-after-zuckerberg-reveals-how-facebook-censored-hunter-biden-laptop-story" target="_blank" rel="noopener">Facebook,</a> have sanctioned conservatives over their positions on controversial social issues, including transgenderism, vaccine mandates, and homosexuality. <a href="https://www.dailywire.com/news/what-gofundmes-trucker-convoy-targeting-says-about-tech" target="_blank" rel="noopener">GoFundMe</a> seized millions raised for trucker protests in Canada earlier this year, while <a href="https://www.dailywire.com/news/democrat-senator-happy-about-getting-google-to-suppress-crisis-pregnancy-centers" target="_blank" rel="noopener">Google</a> recently began suppressing search results for crisis pregnancy centers.
“Greater encroachment by large technology and financial companies into public speech will only exacerbate Americans’ increasing mistrust of such institutions,” the lawmakers wrote. “Policies that empower companies to punish individuals’ beliefs by acting as arbiters of fact in our ever-changing news and public debate environment represent poor business decisions. Instead, large technology and financial institutions should focus on serving the needs of their customers without bias.”
Republicans have unsuccessfully proposed several pieces of legislation meant to uphold free speech on social media. Last summer, Daines <a href="https://www.daines.senate.gov/2021/07/14/daines-introduces-bill-to-counter-big-techs-bias-protect-political-speech-beliefs-of-users/" target="_blank" rel="noopener">introduced</a> the Preserving Political Speech Online Act, which would prohibit the removal of content on the grounds of race, color, religion, sex, national origin, or political affiliation.
“Big tech’s censorship and sanctioning of speech they simply disagree with is inexcusable — they must be held accountable,” Daines told The Daily Wire. “I’ve introduced a bill to protect the exchange of ideas and political speech and will keep fighting to stop social media companies, financial institutions and large corporations from arbitrarily shutting down viewpoints that challenge the woke narrative of the day.”

In this photo illustration a Paypal logo seen displayed on

Senators Confront PayPal On ‘Misinformation’ Policy Highlighted By Daily Wire Report

Senators Request More Information From PayPal After 'Misinformation' Policy

Republican Party

A PayPal worker based in China was the apparent author of a since-rescinded legal document that said the company could <a href="https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation" target="_blank" rel="noopener">deduct thousands of dollars</a> directly from people&#8217;s accounts if it deemed that they engaged in &#8220;misinformation.&#8221;
Metadata on the PDF file outlining PayPal&#8217;s Acceptable Use Policy, which outlines a scenario more fitting for the Communist foreign nation, says it was created using Microsoft Word by a contractor in China.
The contractor&#8217;s profile on an internal PayPal directory, a screenshot of which was reviewed by The Daily Wire, describes them as an &#8220;outsourced vendor&#8221; based in Beijing. It said the contractor has been with the company since September 2020, and has no profile photo.
PayPal did not respond to questions from The Daily Wire about the origins of the document.
The metadata for the &#8220;acceptableuse-full-110322.pdf&#8221; policy, which said it would go into effect on November 3, 2022 &#8212; days before the U.S. election &#8212; says it was created on September 21, leaving plenty of time for internal review before it was posted.
It said it was expanding its “existing list of prohibited activities” to include “the sending, posting, or publication of any messages, content, or materials” that “promote misinformation” or “present a risk to user safety or wellbeing.” Users are also barred from “the promotion of hate, violence, racial or other forms of intolerance that is discriminatory.” It said violations of the policy could result in the removal of <a href="https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation" target="_blank" rel="noopener">$2,500 per offense</a> “debited directly from your PayPal account.”
With &#8220;misinformation&#8221; and &#8220;wellbeing&#8221; left to be defined by PayPal, the policy appeared to raise the specter of the seizure of assets of those with political opinions different than the company&#8217;s. The company recently <a href="https://www.dailywire.com/news/gay-rights-organization-gets-deplatformed-by-paypal-while-pro-pedophile-group-remains" target="_blank" rel="noopener">sanctioned</a> groups including Gays Against Groomers, which opposes the sexualization of children. Former PayPal President David Marcus said the policy update “goes against everything I believe in.”
After news of the policy broke, outrage ensued and the company&#8217;s stock price plunged, reducing its market cap by <a href="https://www.dailywire.com/news/breaking-paypal-stock-plummets-after-daily-wire-report-exposes-shocking-misinformation-policy">$6 billion</a> as users feared that entrusting PayPal with their money could lead to it being seized at any time for having opinions that differed from those of the Silicon Valley monolith.
The company claimed October 8 that publishing the policy was an <a href="https://www.dailywire.com/news/paypal-reverses-plan-to-fine-users-2500-for-misinformation-after-daily-wire-report" target="_blank" rel="noopener">accident</a>, ironically claiming its own policy contained misinformation. “An [Accepted Use Policy] notice recently went out in error that included incorrect information,” a PayPal spokesperson said. “PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. We’re sorry for the confusion this has caused.”
It did not explain how an entire document full of specific legal language could have been drafted and posted to its corporate website if people in the company did not believe in the policy. The website reverted to a policy that says it is effective as of September 19, 2022. Metadata on that file says it was created by the contractor on August 4.
Related: <a href="https://www.dailywire.com/news/the-u-s-government-developed-a-key-green-technology-the-biden-admin-gave-it-to-china">The U.S. Government Developed A Key Green Technology. The Biden Admin Gave It To China.</a>

PayPal’s Scheme To Sanction Users For ‘Misinformation’ Tied To Chinese Contractor

PayPal's Scheme To Sanction Users For 'Misinformation' Tied To Chinese Contractor

Censorship

China

Silicon Valley

Remarks made by <a href="http://dailywire.com/topic/paypal" target="_blank" rel="noopener">PayPal</a> CEO Dan Schulman during an interview with the <a href="https://www.dailywire.com/topic/world-economic-forum" target="_blank" rel="noopener">World Economic Forum</a> earlier this year could shed light on the company’s attempt to pull $2,500 from users’ accounts if they promote “misinformation.”
PayPal, which has deplatformed multiple entities and commentators for their political and social views, had unveiled a forthcoming change to its acceptable use policy that would have banned the promotion of “misinformation,” as well as “hate, violence, racial or other forms of intolerance that is discriminatory.” Within one day of The Daily Wire breaking <a href="https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation">news</a> of the policy change, PayPal <a href="https://www.dailywire.com/news/paypal-reverses-plan-to-fine-users-2500-for-misinformation-after-daily-wire-report">claimed</a> that the new guidelines were published “in error” and apologized “for the confusion this has caused.”
Schulman, who has led PayPal since 2014 and is <a href="https://www.weforum.org/agenda/authors/dan-schulman">actively involved</a> in the World Economic Forum, told the organization during a January <a href="https://www.weforum.org/agenda/2022/01/business-trust-edelman-interview/">interview</a> that his approach to business involves moving the needle on social issues as well as earning profits.
“Trust extends well beyond whether you deliver an excellent product or service. Doing that is very necessary, but it’s not sufficient,” he asserted. “To be a company that embodies trust, your mission and values should make it clear that you stand for more than just maximizing profit. That you stand up for social issues that are important, and you do the right things to help create a better world.”
PayPal garnered controversy in 2016 after the company opposed a North Carolina law that barred individuals from using washrooms for people of the opposite sex. “I immediately made the decision that we were going to withdraw our plans to open an operations center there in a week,” Schulman explained. “Because that was a clear assault against people for their gender identity and their sexual orientation.”
“Saying that you have values and not acting on them is worse than not having any values,” Schulman explained. “That’s what causes employees to revolt, that’s how you sow distrust with customers or regulators.”
Among other entities, the World Economic Forum is a leading proponent of <a href="https://www.dailywire.com/news/esg-the-invisible-fist-of-the-economy">stakeholder capitalism</a>, an approach to investing that encourages executives to consider the needs of employees, communities, and other parties in addition to shareholders, and the <a href="https://www.dailywire.com/news/get-woke-go-broke-amazon-installed-solar-panels-in-an-attempt-to-go-net-zero-they-kept-catching-fire-and-were-turned-off">use of corporate power</a> to advance political agendas in the global economy. The philosophy has <a href="https://www.dailywire.com/news/ben-shapiro-and-entrepreneur-vivek-ramaswamy-discuss-why-woke-investors-are-putting-the-toothpaste-back-in-the-tube">drawn criticism</a> for shifting executives’ gaze away from maximizing value for shareholders.
Corporate involvement in contentious political and social issues likewise provokes skepticism among consumers and investors. PayPal trended on social media over the weekend as thousands of users expressed their disdain for the acceptable use policy and announced that they intended to cancel their accounts. The company’s stock plummeted on Monday as the backlash appeared to <a href="https://www.dailywire.com/news/breaking-paypal-stock-plummets-after-daily-wire-report-exposes-shocking-misinformation-policy">spook investors</a>, causing PayPal to lose over $6 billion in market value.
Earlier this year, an <a href="https://www.dailywire.com/news/poll-by-two-to-one-margin-investors-reject-woke-companies-pushing-political-causes">exclusive poll</a> from The Daily Wire showed that American investors would prefer that companies commit solely to the pursuit of profits. Although 29% of respondents agreed it is a “good thing” for companies to leverage their financial power for political or social means supported by executives, 58% said it is a “bad thing.”

PayPal CEO’s Interview With World Economic Forum Could Suggest Mentality Behind Backtracked ‘Misinformation’ Penalty

PayPal CEO's Interview From Earlier This Year Could Suggest Mentality Behind 'Misinformation' Policy

Wokeness

Self-described &#8220;Award-winning multi-media journalist&#8221; David Leavitt called Child Protective Services on Virginia State Senate candidate Tina Ramirez, reporting her for &#8220;child abuse&#8221; because her opinion of <a href="https://dailywire.com/news/columbus-day-what-really-killed-so-many-natives-robert-kraychik/" target="_blank" rel="noopener">Columbus Day</a> differed from his.
The spat began with an apparent non-sequitur, when Leavitt replied to a tweet from Ramirez over reports that <a href="https://dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation/" target="_blank" rel="noopener">PayPal planned to fine</a> people for spreading &#8220;misinformation&#8221; — a story broken by Daily Wire reporter Ben Zeisloft.
&#8220;Only women can be pregnant. Do I owe PayPal $2500 now?&#8221; Ramirez asked, to which Leavitt replied, &#8220;Why are you celebrating torture, rape, murder, and enslavement?&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Why are you celebrating torture, rape, murder, and enslavement?
&mdash; David Leavitt (@David_Leavitt) <a href="https://twitter.com/David_Leavitt/status/1579547835078692864?ref_src=twsrc%5Etfw">October 10, 2022</a></blockquote>
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Leavitt appeared to be referencing another tweet in which Ramirez wished her followers a happy Columbus Day, and Ramirez responded with a simple explanation: &#8220;I teach my daughter real American history. I refuse to join the radical left&#8217;s campaign to erase history.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
I teach my daughter real American history. I refuse to join the radical left’s campaign to erase history. <a href="https://t.co/x2DGvAabsy">https://t.co/x2DGvAabsy</a>
&mdash; Tina Ramirez (@TinaRamirezVA) <a href="https://twitter.com/TinaRamirezVA/status/1579576278721916928?ref_src=twsrc%5Etfw">October 10, 2022</a></blockquote>
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Leavitt responded by attempting to get some of his 330,000+ followers to harass Ramirez by reporting her to Child Protective Services.
&#8220;Can someone please call child care services on Tina Ramirez who&#8217;s teaching her child to be a racist?&#8221; he asked.
He then apparently decided to make the call himself — and complained about the long wait time to speak to someone at the hotline.
&#8220;The Virginia State hotline for child abuse has a 10+ minute hold and is experiencing &#8216;high call volumes&#8217; with 14 callers ahead of me. This is absolutely unacceptable. How many people try to report child abuse and hang up? How many children will continue to be abused?&#8221; he asked.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
The Virginia State hotline for child abuse has a 10+ minute hold and is experiencing “high call volumes” with 14 callers ahead of me.
This is absolutely unacceptable. How many people try to report child abuse and hang up? How many children will continue to be abused? <a href="https://t.co/yZOKEqTAcn">pic.twitter.com/yZOKEqTAcn</a>
&mdash; David Leavitt (@David_Leavitt) <a href="https://twitter.com/David_Leavitt/status/1579581164922482688?ref_src=twsrc%5Etfw">October 10, 2022</a></blockquote>
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While Leavitt continued to hold — and continued to complain about the wait time — Ramirez responded: &#8220;Mighty bold and liberal of you to lecture a Hispanic mother with a black daughter on racism. What’s next? Are you going to lecture me on women’s rights?&#8221;
Leavitt responded by wondering whether she knew he was waiting to report her — and then informed her that &#8220;having a black child doesn&#8217;t make you any less racist.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Having a black child doesn&#39;t make you any less racist<a href="https://t.co/QnrkB39TTq">https://t.co/QnrkB39TTq</a>
&mdash; David Leavitt (@David_Leavitt) <a href="https://twitter.com/David_Leavitt/status/1579589942766104577?ref_src=twsrc%5Etfw">October 10, 2022</a></blockquote>
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Leavitt <a href="https://twitter.com/David_Leavitt/status/1579593293780094976" target="_blank" rel="noopener">continued to complain</a> about the wait time, posting updates showing that he had been on hold for over an hour. As he waited on the line to report Ramirez for abusing her child —by celebrating Columbus Day — he lamented the amount of abuse that must be taking place in Virginia for wait times to be so long.
Ramirez responded to the entire situation in a Twitter thread of her own, saying, &#8220;Tonight, @David_Leavitt called Child Protective Services to report &#8216;child abuse&#8217; because I teach my daughter about Christopher Columbus and real American history. As a single mother, I am my daughter&#8217;s only support. This is appalling for a number of reasons.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Radical leftist <a href="https://twitter.com/David_Leavitt?ref_src=twsrc%5Etfw">@David_Leavitt</a> didn’t just call CPS to level accusations against me.
He waited an hour on hold, tying up the lines of our CPS professionals trying to help Virginia’s children. The radical left is willing to put our children at risk to cancel conservatives.
2/4
&mdash; Tina Ramirez (@TinaRamirezVA) <a href="https://twitter.com/TinaRamirezVA/status/1579644309959512065?ref_src=twsrc%5Etfw">October 11, 2022</a></blockquote>
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&#8220;Radical leftist @David_Leavitt didn&#8217;t just call CPS to level accusations against me,&#8221; she continued. &#8220;He waited an hour on hold, tying up the lines of our CPS professionals trying to help Virginia&#8217;s children. The radical left is willing to put our children at risk to cancel conservatives.&#8221;
&#8220;It’s no surprise that a member of the radical left is willing to go so far as to call CPS on a single mother &#8211; simply because they want to erase history. The radical left doesn’t want parents making decisions for their own families,&#8221; Ramirez added.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
This goes back to what Virginians fought for in 2021 when they elected <a href="https://twitter.com/GlennYoungkin?ref_src=twsrc%5Etfw">@GlennYoungkin</a>: parent’s rights.
The radical left is willing to sit on hold with CPS for a full hour to level accusations of child abuse &#8211; all because we don’t agree with their out-of-touch worldview.
4/4
&mdash; Tina Ramirez (@TinaRamirezVA) <a href="https://twitter.com/TinaRamirezVA/status/1579644313755348992?ref_src=twsrc%5Etfw">October 11, 2022</a></blockquote>
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&#8220;This goes back to what Virginians fought for in 2021 when they elected @GlennYoungkin: parent’s rights,&#8221; Ramirez concluded. &#8220;The radical left is willing to sit on hold with CPS for a full hour to level accusations of child abuse — all because we don’t agree with their out-of-touch worldview.&#8221;

Tina Ramirez

Journalist Calls Child Protective Services On Senate Candidate And Single Mom Over Columbus Day Tweet

David Leavitt Calls Child Protective Services On Senate Candidate Tina Ramirez Over Columbus Day Tweet

Child Protective Services

Christopher Columbus

Columbus Day

Virginia

PayPal <a href="https://www.dailywire.com/news/paypal-reverses-plan-to-fine-users-2500-for-misinformation-after-daily-wire-report" target="_blank" rel="noopener">reversed</a> its decision to fine users $2,500 for violating its terms of service after Elon Musk and a former executive led a furious backlash against the move on social media.
In a tweet Saturday, former PayPal President David Marcus spoke out against a new policy, first reported by <a href="https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation" target="_blank" rel="noopener">The Daily Wire</a>, that would apparently allow the digital payment processor to charge users $2,500 for posting materials that &#8220;promote misinformation&#8221; or “present a risk to user safety or wellbeing.”
Elon Musk, a co-founder of PayPal, said he agreed with Marcus&#8217; criticism, joining a number of others who have spoken out against the new policy.
&#8220;It’s hard for me to openly criticize a company I used to love and gave so much to,&#8221; Marcus wrote on Twitter. &#8220;But @PayPal’s new AUP goes against everything I believe in. A private company now gets to decide to take your money if you say something they disagree with. Insanity.&#8221;
&#8220;Agreed,&#8221; Musk wrote in reply to Marcus.
<blockquote class="twitter-tweet">
Agreed
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1578815879445217280?ref_src=twsrc%5Etfw">October 8, 2022</a></blockquote>
The criticism from Marcus and Musk, who was on the board of directors and briefly CEO of PayPal during its early days, were at the front of a fury of backlash to the proposed policy.
&#8220;Get your money out of [PayPal] right now,&#8221; venture capitalist <a href="https://twitter.com/DavidSacks/status/1578801916846698496?s=20&amp;t=0y5TosAugB_mX2-defwY2w" target="_blank" rel="noopener">David Sacks</a> tweeted.
&#8220;Seriously, close your PayPal account immediately if they don&#8217;t reverse this today,&#8221; replied <a href="https://twitter.com/ScottAdamsSays/status/1578727210587811846?s=20&amp;t=ygPOkVLETkGTecMFeL6eYQ" target="_blank" rel="noopener">Scott Adams</a>, creator of the &#8220;Dilbert&#8221; comic strip.
&#8220;Why would anyone use @PayPal ever again?&#8221; conservative commentator <a href="https://twitter.com/johncardillo/status/1578838324986667008?s=20&amp;t=UEznmlKNzPzedAfS37poqA" target="_blank" rel="noopener">John Cardillo</a> wrote. &#8220;They&#8217;ve flat out told you they&#8217;re going to steal your money if you disagree with the regime.&#8221;
&#8220;The &#8216;misinformation&#8217; police are now extending their reach beyond your social media accounts and into your financial accounts,&#8221; author and entrepreneur <a href="https://twitter.com/VivekGRamaswamy/status/1578778036883030016" target="_blank" rel="noopener">Vivek Ramaswamy</a> wrote.
&#8220;PayPal probably isn’t protected by Section 230, so it could face legal liability in states with political nondiscrimination statutes,&#8221; Ramaswamy <a href="https://twitter.com/VivekGRamaswamy/status/1578829100860731393?s=20&amp;t=N89C_vGmxGrNvoiK-gx_TQ" target="_blank" rel="noopener">added</a> later. &#8220;It’s an easier case to make than against a social media platform.&#8221;
&#8220;Orwellian. Paypal reserves the right to take your money if you post a message that Paypal decides is &#8216;misinformation,’” former FCC Commissioner <a href="https://twitter.com/BrendanCarrFCC/status/1578811099679698944">Brendan Carr</a> said. &#8220;This is why it is so vital that state and federal legislatures pass laws that prohibit discrimination by tech companies and protect free speech.&#8221;
“&#8217;PayPal mafia&#8217; was supposed to be an endearing reference to the company’s alum—not a business plan,&#8221; Carr added.
Sen. <a href="https://twitter.com/MarshaBlackburn/status/1578838388505182208?s=20&amp;t=HjU8bbPbQZomp64oHxEDNQ">Marsha Blackburn</a> (R-TN) hinted at congressional action in a reply to The Daily Wire&#8217;s report. &#8220;PayPal is censoring speech,&#8221; Blackburn wrote. &#8220;If you don’t listen, they will steal your money. We cannot allow this to happen.&#8221;
Arizona Republican Senate Candidate <a href="https://twitter.com/bgmasters/status/1578797765928267776">Blake Masters</a> also hinted that he would take action against PayPal if he is elected. &#8220;I will be putting a stop to this soon,&#8221; Masters tweeted.
Podcaster and Locals.com creator <a href="https://twitter.com/RubinReport/status/1578756583386804224?s=20&amp;t=cr0UJZIUuEBTyh_Cl0rOOg">Dave Rubin</a> also hinted at a fix of his own. &#8220;Coming soon. We are working on solutions…&#8221; Rubin wrote in a Twitter thread.
The backlash prompted PayPal to walked back the new policy. “An AUP notice recently went out in error that included incorrect information,&#8221; the company said in a statement, obtained by National Review reporter Caroline Downey. &#8220;PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. Our teams are working to correct our policy pages.”
<blockquote class="twitter-tweet">
🚨FROM PAYPAL SPOX:
“An AUP notice recently went out in error that included incorrect information. PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. Our teams are working to correct our policy pages.”
— Caroline Downey (@carolinedowney_) <a href="https://twitter.com/carolinedowney_/status/1578846827545530369?ref_src=twsrc%5Etfw">October 8, 2022</a></blockquote>

Elon

Elon Musk, Former PayPal Exec Led Backlash Before PayPal Abandoned Plan To Fine Users $2,500 For ‘Misinformation’

Elon Musk, Former PayPal Exec Led Backlash Before PayPal Abandoned Alleged Plan To Fine Users $2,500 For ‘Misinformation’

Elon Musk

Twitter

A red-faced PayPal walked back a shocking new policy announcement that users who advance &#8220;misinformation&#8221; could face fines of $2,500 per offense, saying it was all a mistake after The Daily Wire called attention to the chilling scheme.
The financial services company, which has repeatedly deplatformed organizations and individual commentators for their political views, announced Saturday, one day after The Daily Wire <a href="https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation" target="_blank" rel="noopener">story</a> broke, that the announcement went out in error.
&#8220;An [Accepted Use Policy] notice recently went out in error that included incorrect information,&#8221; a PayPal spokesperson said. &#8220;PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. We’re sorry for the confusion this has caused.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Just moved all money I had in my PayPal account out of it. And I very must suggest you do the same. 
This is serious. 
They are delaying the transfer “pending review” for 12 hours. But at least it’s done. <a href="https://twitter.com/hashtag/PayPal?src=hash&amp;ref_src=twsrc%5Etfw">#PayPal</a> is dead. <a href="https://t.co/Cr1EA1yQjh">pic.twitter.com/Cr1EA1yQjh</a>
&mdash; Candace Owens (@RealCandaceO) <a href="https://twitter.com/RealCandaceO/status/1578834629397598208?ref_src=twsrc%5Etfw">October 8, 2022</a></blockquote>
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The original announcement said PayPal would <a href="https://www.paypal.com/us/webapps/mpp/ua/upcoming-policies-full" target="_blank" rel="noopener">expand</a> its “existing list of prohibited activities” on November 3. Among the <a href="https://www.paypalobjects.com/marketing/ua/pdf/US/en/acceptableuse-full-110322.pdf" target="_blank" rel="noopener">changes</a> were prohibitions on using the platform for “the sending, posting, or publication of any messages, content, or materials” that “promote misinformation” or “present a risk to user safety or wellbeing.” Users were also barred under the policy from “the promotion of hate, violence, racial or other forms of intolerance that is discriminatory.”
Before posting its initial story, The Daily Wire reached out to PayPal for definitions of the added terms but received no response.
The report sparked outrage online, with many people tweeting pledges to dump the online payment facilitator. Particularly chilling was the fact that the policy said determinations of what could be deemed &#8220;misinformation,&#8221; or a threat to the &#8220;wellbeing&#8221; of other users was to be at the “sole discretion” of PayPal. The now-aborted policy said users could be liable for “damages” — including the removal of $2,500 “debited directly from your PayPal account” per offense.
“Under existing law, PayPal has the ability as a private company to implement this type of viewpoint-discriminatory policy,” Aaron Terr, a senior program officer at the Foundation for Individual Rights and Expression, told The Daily Wire. “Whatever motivation PayPal has for establishing these vague new categories of prohibited expression, they will almost certainly have a severe chilling effect on users&#8217; speech. As is often the case with ill-defined and viewpoint-discriminatory speech codes, those with unpopular or minority viewpoints will likely bear the brunt of these restrictions.”
The announcement and reversal comes days after PayPal canceled three accounts linked to Toby Young, a commentator who runs a nonprofit called Free Speech Union. The organization has <a href="https://freespeechunion.org/blog/" target="_blank" rel="noopener">defended clients</a> such as actor and comedian Russell Brand, who recently <a href="https://www.dailywire.com/news/russell-brand-leaves-youtube-for-rumble-after-censorship-complaint" target="_blank" rel="noopener">moved his show</a> from YouTube to Rumble in reaction to censorship from the former platform.
Platforms such as <a href="https://www.dailywire.com/news/the-end-of-conservative-books-amazon-quietly-bans-books-they-deem-offensive-hate-speech" target="_blank" rel="noopener">Amazon</a>, <a href="https://www.dailywire.com/news/allie-beth-stuckey-suspended-from-twitter-after-challenging-fox-news-segment-that-went-viral" target="_blank" rel="noopener">Twitter</a>, and <a href="https://www.dailywire.com/news/meta-doubles-down-after-zuckerberg-reveals-how-facebook-censored-hunter-biden-laptop-story" target="_blank" rel="noopener">Facebook</a> have censored conservatives over their positions on controversial social issues, including transgenderism, vaccination mandates, and homosexuality. <a href="https://www.dailywire.com/news/what-gofundmes-trucker-convoy-targeting-says-about-tech" target="_blank" rel="noopener">GoFundMe</a> seized millions in funds raised for trucker protests in Canada earlier this year, while <a href="https://www.dailywire.com/news/democrat-senator-happy-about-getting-google-to-suppress-crisis-pregnancy-centers" target="_blank" rel="noopener">Google</a> recently began suppressing search results for crisis pregnancy centers.
PayPal has also <a href="https://www.dailywire.com/news/gay-rights-organization-gets-deplatformed-by-paypal-while-pro-pedophile-group-remains" target="_blank" rel="noopener">sanctioned</a> Gays Against Groomers, a group that opposes the sexualization of children, as well as evolutionary biologist Colin Wright and journalist Ian Miles Cheong. The company featured a rainbow-colored banner on its social media platforms during the month of June affirming that the platform is “open for all” — and PayPal U.K. still <a href="https://twitter.com/PayPalUK" target="_blank" rel="noopener">sports</a> the banner.
“Whatever PayPal’s intentions may be, censorship and chilling free speech is precisely the effect of these kinds of vaguely worded policies,” Tedesco added. “We’ve seen social media companies use similar policies to stifle free speech on their platforms. We can expect a similar outcome with PayPal.”
Ben Zeisloft contributed to this report.
Editor&#8217;s Note: The aborted PayPal Acceptable Use Policy was reported Oct. 6 by <a href="https://americasfrontlinenews.com/post/updated-pay-pal-policy-fines-users-2-500-for-unapproved-speech" target="_blank" rel="noopener">America&#8217;s Frontline News</a>

PayPal To Acquire Honey Science Corp

PayPal Reverses Plan To Fine Users $2,500 For ‘Misinformation’ After Daily Wire Report

PayPal Reverses Plan To Fine Users $2,500 For 'Misinformation' After Daily Wire Report

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