San Jose, Calif. -- PayPal, the online payment arm of San Jose-based eBay, on Thursday announced a settlement with 28 states in which it, among other things, has agreed to shorten and streamline its user agreement and communicate more information relating to its protection programs. The company also will pay the states a total of $1.7 million to cover costs of their investigations. PayPal also said that it has agreed to pay another $3.5 million to settle a class action suit against the company pending in U.S. District Court in Brooklyn. The suit, filed in 2005, alleges that the company did not clearly communicate information about some of its consumer protection programs.
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