Attendees, pictured above: Greg Leding, Derek Kawakami, Jimmy Higdon, Daniel Adams Eaton, John Mann, James Healey, Brian Kennedy, Deb Peters, Judi Buckley, Sammuel Sanes, Roger Freeman, Rosie Berger.

Last week eBay Inc. hosted 12 legislators and several staff members from the National Conference of State Legislature's (NCSL) committee on Communications, Financial Services and Interstate Commerce (CFI).  The NCSL CFI committee is the committee of jurisdiction for debating and sharing best practices on issues impacting PayPal and other financial services companies.  The meeting, the second of its kind with NCSL CFI Committee members, was part of an ongoing conversation with NCSL and its member legislators on mobile and electronic payments and the regulatory model that governs companies in the payments ecosystem.

In the past few years the payments industry has seen an explosion of new entrants, and yet most companies are still regulated under the old money transmitter model.  As a regulated entity, PayPal believes regulation is an essential part of creating a competitive landscape for payments companies and for ensuring an adequate level of consumer protection.  PayPal is committed to working with legislators and regulators to improve upon the existing regulatory system, while continuing to create useful payments products for our customers.