PayPal news: CBD Retailer Says PayPal Wrongfully Locked Its Accounts

From Law360:

By Sam Reisman (October 26, 2021, 6:45 PM EDT) — PayPal unlawfully shut off a Brooklyn retailer’s accounts because its new line of CBD oil products violated the digital payment company’s policy against the sale of drugs and other consumer risks, according to a lawsuit filed Monday in New York federal court.According to the complaint, Friends NYC’s eight-year relationship with PayPal Holdings Inc. came to an end last December when the payment company locked the retailer’s accounts and put a hold on $9,000 in funds while it investigated a potential breach of its user agreement.Attorneys for Friends NYC told Law360 that the retailer had attempted to resolve the matter…

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