[thephyber]

I am but a lowly individual citizen and I knew that PayPal is a terrible company, is not a regulated bank, offers a sketchy product, has been known to freeze/close accounts for opaque reasons, somehow be able to freeze the deposits of the bank account attached to the PayPal account. PayPalSucks.com has been running since last millennium with lots of this info.

It is not a bank. People should know it is not a bank. Hence, banking regulators have no authority over it.

You are saying should, but you haven’t shown under what legal authority the regulator can. You seem to be. Making a philosophical argument.