PayPal (PYPL) to waive $30 million in fees after DEI-related probe

PayPal will waive about $30 million in transaction fees for small businesses owned by veterans or operating in farming, manufacturing and technology, following an investigation into a prior investment program for Black and minority-owned businesses. The probe focused on a six-year-old program tied to diversity, equity and inclusion initiatives. The move comes as the Trump administration intensifies scrutiny of corporate DEI policies, expanding pressure on companies to revise or abandon race- and identity-focused programs. PayPal did not announce a direct financial charge tied to the fee waivers. Investors will likely assess whether the agreement signals broader legal or regulatory risk for companies with legacy DEI-linked funding programs.