Paypal is not a bank, neither a financial institution under US Federal regulations. Paypal are made by several owners, employee's just work there like you and me that want to work and have a living to take care of families. Unfortunately , the word "business" is tempting for some human's. The word "Not regulated business practices" is more tempting for some humans. Unfortunately, the word's "Pending , Fund's on hold " are NOT ground's for legal prosecution, neither means "stealing money from you", they are just keep it for a little while per the rules they create and you keep in agreement while you have an active account Yes! can't close it or you will lose your existing funds "yes" read the agreement (NOV 2020 version) it is there. Yes! it is up to the consumer to make a choice /decision of where we trust our hard worked money. Is all up to the state for enforcement where Paypal do business with you. Note: Paypal do business in several states. I also want to advice you that you are venting your concerns in a PAYPAL manage community :). so, do not volunteer information, keep researching till you find the right person / organization that can help you. if find any? do not post it in here. Surprise factor is the best tool for all of us (The Consumer's). Thank you
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