2016 must be the year of the lawsuit. I swear every major company is getting sued, #Verizon #Sprint and now the number one secure way to transfer money via the internet had a class action settlement being brought against them and it has been settle. According to the email document, “A settlement has been reached in a class action in which the plaintiffs allege, among other things, that #PayPal improperly handled disputed transactions on PayPal accounts and improperly placed holds and reserves on accounts or closed or suspended accounts. Plaintiffs also allege that PayPal failed to provide annual error-resolution notices and monthly account statements under the Electronic Fund Transfer Act.”
What does that mean for PayPal users? If you had an active PayPal account April 19, 2006 through Nov. 5, 2015 that had a hold or reserve placed on your account and/or who had your account closed or suspended by PayPal you are eligible to receive a monetary payment upon submission of a valid claim form, that explains the terms and conditions of the settlement in more details.