OT: Changes to Paypal User Agreement/Policy

[Jlighter]

Originally Posted by Leon

I am not sure that not being able to be part of a class action lawsuit against paypal is that big of a deal. In my 51 years I have been a party to lots of class action suits. I think my net take on all of them combined is about $3.27......Not a bad thread to start but probably not too life changing..

My mom was part of a class action suit against reebok and got 55 dollars, so don't knock it.

[jcmtiger]

Not a big deal.

[Leon]

Originally Posted by Jlighter

My mom was part of a class action suit against reebok and got 55 dollars, so don't knock it.

Please pass on my congratulations .

I think the new policy is important, just not that important.

[cmcclelland]

It's actually a bigger deal than you might think. It's not about what we might potentially receive in compensation for something Paypal might do against us. What is important about this is the fact that Paypal (and lots of other big companies that are implementing these anti-consumer no class action clauses) does not have to worry any more about screwing millions of people out of a few bucks each since they know that no one is going to pursue a case against them individually for such a small amount.

Without the threat of a class action, these big companies have to incentive to make sure they don't screw up and take advantage of people for a few bucks here and there. I'm not saying that companies are intentionally trying to screw people over, but with these new user agreements that bar class actions if they "accidentally" screw millions of people out of a few bucks each, then there is no mechanism for them to be held accountable.

[markf31]

Originally Posted by cmcclelland

It's actually a bigger deal than you might think. It's not about what we might potentially receive in compensation for something Paypal might do against us. What is important about this is the fact that Paypal (and lots of other big companies that are implementing these anti-consumer no class action clauses) does not have to worry any more about screwing millions of people out of a few bucks each since they know that no one is going to pursue a case against them individually for such a small amount.

Without the threat of a class action, these big companies have to incentive to make sure they don't screw up and take advantage of people for a few bucks here and there. I'm not saying that companies are intentionally trying to screw people over, but with these new user agreements that bar class actions if they "accidentally" screw millions of people out of a few bucks each, then there is no mechanism for them to be held accountable.

Exactly, that’s the power behind a class action suit. You can’t gauge the impact of a class action suit based on what you get out of the suit, you should gauge it based on how it effects and changes the defendant company and their business practices. That $10 you get out of the suit isn’t anything, but the $2.5 million the company had to pay out for the suit for something they did wrong, illegal, or underhanded is significant.

[Leon]

Obviously class action lawsuits are important. It's not like they are going away.

[freakhappy]

Although it doesn't seem like a big deal to some people, it looks like it could affect some people in a big way and is worth taking note...especially since a great amount of people on this board use it.

[Jlighter]

Plus another thing to consider is that many people are not going to opt out. So if anything were to ever happen a settlement would be for a much smaller pool of people.

Also, it's a matter of principle.