Bill > SCR52

Introduced Session

This resolution urges Congress and the President of the United States to enact legislation prohibiting private financial institutions from penalizing individuals for expression of constitutionally protected speech. A recent policy update notice from PayPal, Inc. indicated that its services could not be used, starting November 3, 2022, to promote misinformation, an infraction to be defined solely by PayPal, Inc. and to result in a fine of $2,500. Under the policy, PayPal, Inc. would have also been able to penalize users who would have violated other restrictions on expression, including on content that, in the sole discretion of PayPal, Inc., is unfit for publication. Public outrage led to the company retracting this change, but consumers remain vulnerable to the decisions of private financial institutions to implement similar policies going forward. Wide dependence upon financial institutions in daily life renders their ability to implement broad policies penalizing certain expressions inequitable. This resolution urges Congress and the President to enact legislation to protect consumers from such restrictions under federal law, which has the potential to more broadly protect consumers than state law alone.

Committee Categories

Douglas Steinhardt (R)*,  Mike Testa (R)*, 

Introduced in the Senate, Referred to Senate Commerce Committee (on 01/09/2024)

Official Document