Thread: Smashwords Succumbs to Censorship
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Old 02-27-2012, 01:28 PM   #151
carld
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Quote:
Originally Posted by ucfgrad93 View Post
PayPal is not a bank. They provide a service and are allowed to determine who they provide that service to.
They effectively act as a bank, and in Europe (I believe) they are legally considered a bank. I'd have to look up the details, but PayPal got sued for acting as a bank, but not declaring themselves one.
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