PayPal tells users it will fine them $2,500 for misinformation, then backtracks immediately

It may be time to take a closer look at a company's terms of service after you click through one of those lengthy legal warnings.

There was a storm of outrage over the new policy of $2,500 fines for consumers and merchants who say what the corporate brass deems to be incorrect.

David Marcus, the former president of PayPal, was among a number of high-profile individuals who criticized the company over the weekend for what it claimed was a mistake.

The new Acceptable Use Policy forced Marcus to come forward and criticize his previous employer, where he worked for three years before joining eBay.

He said that the new AUP goes against everything he believes in. If you say something they don't agree with, a private company will take your money.

The plans were blasted by free speech advocates like Musk and actor Kevin Sorbo.

Tensions are running high over misinformation claims, which could see the Republicans take control of both houses of Congress in the upcoming elections.

‘Delete PayPal’

Many on the right fear that Big Tech is targeting them because of their political views.

The language in the policy was never intended to be used as a fining mechanism. This has caused confusion and we apologize.

Critics didn't seem to buy the idea that it was an innocent mistake that was fixed quickly.

Dan Held was the former head of growth marketing for the exchange and a fan of the digital currency.

He wrote that freezing funds for thought crimes is despicable.

libertarians like Held believe that the government and its supporters are chipping away at human rights.

Since the Treasury Department imposed sanctions on Tornado Cash, they've been on high alert.

Marcus was the former president of PayPal and he is a fan of the digital currency. A common fear in the community is that the state will eventually seek to sideline virtual assets through the introduction of central bank digital currency.

The blowback won't help the stock, which has been a poor investment so far.

Visa has declined by only 15% so far this year, but PayPal has lost more than half of its value. eBay, its former parent, has only fallen by a small amount.

The tech market is expected to lead the way lower on Monday.

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