'Far left wants to crush PayPal, Zelle and you can take that to the bank
Payment processors like PayPal and Zelle are targeted by far left that
wants to replace them with government'

'Payment processors like PayPal and Zelle are targeted by far left that
wants to replace them with government'

'Many Americans were surprised to recently see a coalition of the
country’s most radical politicians — Sen. Elizabeth Warren, D-Mass., Rep
Maxine Waters, D-Calif., and Sen. Richard Blumentha l, D-Conn., to name
a few — teaming up to introduce heavy-handed legislation against the
peer-to-peer payment companies (like PayPal, Venmo, Zelle and CashApp)
that have improved all our lives. Blumenthal even went so far as to
dispatch a separate letter to the head of the Consumer Financial
Protection Bureau (CFPB) demanding an investigation into Zelle...

The Biden administration brass, especially CFPB Director Rohit Chopra,
have fought aggressively to convince the American people to stop using
PayPal, Zelle and the like as "substitutes for a traditional bank or
credit union account,"...

.. Left with no other options to get their way other than government
coercion, the administration handed the ball off to its favorite relief
pitchers in Congress — Warren, Waters and Blumenthal — to reshape the
nation’s laws in their favor.

The resulting new bill that this left-wing cabal released, the
Protecting Consumers from Payment Scams Act, would put peer-to-peer
payment processors on the hook for every single instance of scamming
that occurs on their platform....

The legislation’s sponsors claim this bill is necessary to protect
public safety, but everyone knows this argument is completely
nonsensical. Scams don’t even comprise a single percentage point of the
transactions on these platforms.'