PayPal agreed to settle DOJ fair‑lending investigation without a fine, committing to a race‑neutral Small Business Initiative.
The initiative will waive processing fees on $1 billion of transactions, valued at roughly $30 million, for veteran‑owned, farming, manufacturing or tech firms.
PayPal must appoint a director, assess small‑business needs, submit plans, train staff on the Equal Credit Opportunity Act, and report annually.
The 2020 Economic Opportunity Fund previously favored black and minority‑owned firms, though it was not designed to remediate past discrimination.