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When I read about this PayPal class action suit, I froze. Sometimes big companies like this eBay-owned one become such big monopolies that they start to forget it was the consumers who stood by them all the while. Once the good times rolled in, they start behaving like greedy monsters and start making long winded T&C agreements to confuse users. But that's the norm in the cut-throat business world and in a capitalist world, its the consumers that need to beware.

theregister UK reports :

PayPal today promised to treat its US customers a little better and to pay $1.7m for the costs of a States investigaton into its terms and conditions. Also today, the company said it has reached a preliminary settlement in a class action suit, filed in 2005, alleging that it did "not clearly communicate information about its consumer protection programs related to specific types of transactions". PayPal is to put $3.5m into a settlement fund, less admin costs and plaintiff fees. The agreement needs to be rubberstamped by the US District court in Brooklyn.