DOJ expands anti-DEI probes
PayPal agreed to $30M settlement over minority-owned initiative
The Department of Justice (DOJ) announced a $30M settlement in which PayPal Holdings agreed to resolve a fair lending investigation into an investment program for black- and minority-owned businesses. The settlement requires PayPal to launch a small business initiative that excludes criteria based on race, national origin, or other protected characteristics. As part of the initiative, PayPal will waive processing fees for $1 billion in transactions, which equals a value of $30M, for eligible American small businesses that are veteran-owned or engaged in farming, manufacturing, or technology. Acting Attorney General Todd Blanche said the settlement is an example of President Trump’s focus on eliminating programs in corporate America the administration claims promote “illegal” DEI initiatives.
DOJ announces FOCUS initiative