Posted BY: | NwoReport
The Securities and Exchange Commission (SEC) has granted conservative investors the authority to investigate claims of systematic political and religious discrimination against customers by PayPal, a popular online payment platform.
Despite objections from PayPal’s management, the SEC has allowed a proposal submitted by the National Center for Public Policy Research (NCPPR) to proceed to a shareholder vote at the company’s upcoming annual meeting. This decision follows a similar ruling on March 29, in which the SEC approved a proposal regarding alleged discrimination at JPMorgan Chase, the largest bank in the United States.
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In a letter dated April 10 addressed to PayPal’s attorneys, the SEC stated that NCPPR’s proposal “requests that the board conduct an evaluation and issue a report within the next year evaluating how it oversees risks related to discrimination against individuals based on their race, color, religion (including religious views), sex, national origin, or political views, and whether such discrimination may impact individuals’ exercise of their constitutionally protected civil rights.”
PayPal had sought to block the proposal from going to a shareholder vote, arguing that the issue of viewpoint discrimination falls under the company’s “ordinary business operations” and that the proposal would intrude on matters of a complex nature beyond the scope of shareholders’ expertise.
