Confusing or missing disclosures: Money transfer, virtual currency, or money service

Deceptive Practices and Forced Currency Conversion on Initial Automatic Payments I am filing this complaint against PayPal for engaging in deceptive financial practices, hiding critical transaction options, and forcing non-consensual currency conversion markup fees on consumers. Recently, I authorized a recurring automatic payment agreement via PayPal using my linked international credit card ( Visa/Mastercard ). PayPal intentionally hid the currency conversion toggle during the initial checkout and subscription signup flow. As a result, my very first transaction was automatically processed using PayPals internal, heavily marked-up exchange rate without my explicit, informed consent. When I contacted PayPal Customer Support, they acknowledged that this " locked '' currency conversion on automatic payments is a " well-documented friction point '' where PayPal defaults to its own exchange rate markup. They admitted that the system hides the toggle during signup, forcing users to manually go deep into account settings to change it retroactively for " future transactions. '' However, PayPal explicitly refuses to correct or refund the currency conversion fee for the first transaction, stating that " once the transaction is completed, we will not have any option to make any changes, '' and claiming the process is " correct as per the User Agreement. '' This is a predatory and anti-consumer product design. PayPal is leveraging its interface to intentionally default consumers into a worse financial rate to profit from the conversion spread, while offering no option to avoid it on the first payment. Telling a consumer they can fix a setting after they have already been wrongfully charged does not change the fact that the initial charge was unauthorized in its method of conversion. I request that the CFPB investigate PayPal 's deceptive billing practices and require PayPal to : Refund the excess currency conversion spread/markup stolen from my initial transaction. Fix their user interface to provide a mandatory, transparent currency conversion choice ( PayPal rate vs. Card Issuer rate ) at the exact moment a user signs up for any automatic payment or billing agreement, rather than hiding it to force a retroactive fix.