President Donald Trump’s Justice Department just landed its most concrete corporate DEI enforcement action yet, and the dollar figure alone should get the attention of every boardroom in America.
PayPal has agreed to a settlement valued at roughly $30 million to resolve a federal investigation into its 2020 Economic Opportunity Fund, a program DOJ alleged gave preferences to businesses based on race, color, and national origin without any documented basis in remedying specific past discrimination. Under the deal, PayPal will scrap the program and replace it with a new Small Business Initiative built entirely on race-neutral criteria.
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The settlement stops short of a finding that PayPal violated the Equal Credit Opportunity Act or any other federal law, and PayPal admitted no wrongdoing. Those caveats belong
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