In article 3,
Paul Treadaway writes:
magwitch wrote in :
Paul Treadaway wrote:
magwitch wrote in
:
But the Australian Competition and Consumer Commission have told
ebay to abandon the plans on the grounds of anti-competitive
practises
And what's our *useless* FSA doing? Still trying to catch up on the
NR fiasco?

It's nothing to do with the FSA, which regulates financial services.
I think you mean the OFT or MMC.

And PayPal is a bank or like to style themselves as such — providing
financial services for users of Ebay.

If PayPal is authorised and regulated by the FSA, then the regulation
is to prevent PayPal ripping you off, laundering money etc. What Ebay
does is not covered by the FSA.

PayPal moved out of the UK, so FSA provides you no protection anymore.
Also, UK law didn't allow it to become a real bank, which it wanted to.
Card companies also warned they were to start treating PayPal payments
as cash advances, so you get no card protection. One or two had also
started to charge the cash advance fee on PayPal transactions (ISTR
Nationwide was one such).

Who or what are OFT or MMC?

The Office of Fair Trading and the Monopolies and Mergers Commission.

Monopolies and Mergers Commission was replaced by the Competition
Commission some years back. I think they got fed up with people
complaining that there was only one Monopolies and Mergers Commission ;-)

--
Andrew Gabriel
[email address is not usable -- followup in the newsgroup]