New York State has announced a $2,000,000 settlement with PayPal over charges it failed to comply with the state's cybersecurity regulations, leading to a 2022 data breach.

PayPal will pay a $2 million civil fine over cybersecurity failures that led to the exposure of customers' Social Security numbers in late 2022, New York state's Department of Financial Services said on Thursday.

President Donald Trump wants his administration to have an action plan for artificial intelligence ready within 180 days. On Thursday, the president signed an executive order calling for the US "to sustain and enhance America's global AI dominance.

It's almost impossible to predict whether a stock can turn investors into millionaires one day. However, PayPal's durable growth and competitive strengths certainly resemble traits of a high-quality business. It's also very profitable, with an operating margin in the high teen percentages.

During the three-month period that ended Sept. 30, 2024, PayPal handled a whopping $423 billion in total payment volume. That figure was up 9% year over year and 136% higher than in the third quarter (Q3) of 2019. What's more, revenue in the past five years has climbed at a 12.4% annualized clip. PayPal is clearly still growing nicely.

PayPal Holdings Inc. will pay $2 million to settle claims that it mishandled an update to its tax-reporting protocols to comply with federal pandemic-era requirements and exposed customers’ Social Security numbers,

Analysts expect its revenue and GAAP EPS to have grown 6% and 4%, respectively, in 2024. For 2025, they expect its revenue and GAAP EPS to rise 6% and 17%, respectively, as the macroeconomic environment improves and it expands its ecosystem. That stable growth indicates it can keep growing over the long term without eBay's support.

Piper Sandler raised the firm’s price target on PayPal (PYPL) to $93 from $88 and keeps a Neutral rating on the shares. The firm believes that

PayPal, Inc., one of the world’s leading financial technology firms, has agreed to pay a $2 million penalty to New York State following a cybersecurity breach that exposed sensitive customer information, including Social Security numbers.

PayPal Chief Product Officer John Kim has entered into a separation agreement with the company and plans to leave his position on March 31, according to a filing with Securities and Exchange Commission on Wednesday.

The settlement detailed the missteps PayPal took in the lead-up to the attack and highlighted common risks — both on compliance and security — banks face.

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