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SEC Allows Vote To Investigate PayPal’s Political And Religious Discrimination

The SEC has ruled that the stockholders of PayPal vote on  a proposal from the National Center for Public Policy Research to go to a vote at the next shareholders meeting. The National Center for Public Policy Research argued that:

“companies that provide banking or financial services are essential pillars of the marketplace. On account of their unique and pivotal role in America’s economy, many federal and state laws already prohibit them from discriminating when providing financial services to the public.”

Epoch Times reported:

The Securities and Exchange Commission (SEC) sided with conservative investors this week in their request to investigate what they say is PayPal’s systematic political and religious discrimination against customers.

Over the objections of PayPal’s management, the SEC allowed a proposal by the National Center for Public Policy Research (NCPPR) to go to a shareholder vote at the company’s next annual meeting. This decision follows a similar decision on March 29, in which the SEC green-lighted a proposal regarding alleged political and religious discrimination at JPMorgan Chase, America’s largest bank.

In an April 10 letter 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.”

Responding to PayPal’s request to block the proposal from going to a shareholder vote, the SEC stated: “We are unable to concur in your view that the Company may exclude the Proposal under Rule 14a-8(i)(7). In our view, the Proposal transcends ordinary business matters.”

The Gateway Pundit previously reported:

Without warning, The Gateway Pundit and Jim Hoft were banned from Paypal on the last day of 2021.

The Gateway Pundit is one of the top 250 websites in the United States today and had over 900,000,000 page views in 2021. We continue to grow despite constant attacks, smears, limited social media, and lawsuits.

From Bloomberg Law

The Paypal proposal from the National Center for Public Policy Research asks for a report on how the company oversees risks of discrimination against individuals based on their race, religion, political views and more. Paypal had argued that the proposal “deals with matters relating to the company’s ordinary business operations.”

The SEC said the PayPal proxy proposal “transcends ordinary business matters” and can’t be excluded by the company. Paypal’s 2023 annual meeting hasn’t been announced yet.

The shareholder request for a company report references alleged “religious and political discrimination” in the financial services industry. Such actions “threaten the ability of American citizens to live freely and do business according to their deeply held convictions,” the Center said.

In an email to Bloomberg Law, Center fellow Scott Shepard said: “We’re heartened to see that the SEC staff did not omit this proposal, that addresses PayPal’s religious, and viewpoint discrimination, which grows by the month and violates the company’s fiduciary duty. This does not, however, excuse it from continuing to exclude proposals that deal with viewpoint discrimination generally.”

 

The reason for the vote is quite simple. PayPal blocking its services to large companies such as the Gateway Pundit reduces revenue and thus affects those holding stock in the company. This vote is about free speech and the banning of conservatives.

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4 Responses

  1. Good for SEC
    🥰CHRISTrump and all our US TRUMPlican Lawmakers successfully US 2022-2036 Reelected Landslide
    Amen & Amen🥰l

  2. I am unsure what this is all a bout.. I, personally, depend on PayPal when I make on line purchases and have NVER had a problem. Who stirirng up illegal issues I’d like to know what the problem is.

  3. Laws seem not to matter in the US any longer, only “party”status, as if there were multiple parties here. Leftists, and those of whom they approve, are protected while those who disagree with the left agenda are blocked, as if to force us to change our core values and beliefs. The left would have us believe our values are “wrong”, evil… Our Creator differs with them, and expects us to do so as well, when we claim to follow Him. The EVIL is in the hate that drives leftist policies.

  4. Steven Ahle the issue here is actually that companies are forbidden from making their own laws, especially laws which violate the laws of the country they operate in and tats exactly whats happenning companies are making laws for use of their platforms.

    Further more; a company has no right to punish a user in any way shape or form without proving wrong doing in court. Many companies are illegally bipassing this and directly punishing users for what they deem to be a crime, and using mandatory arbitration clauses in their ToS to attempt to make it legal (though it’s illegal)

    In reality, the companies only hahve one recourse if a user has committed offenses, either sue the user if it directly/financially damages the company, OR submit a report to the government to investigate it based on the law of the nation. this is what they are refusing to do.

    companies are a law unto themselves? when was that in the constitution? where is that in any law? it’s not.

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