PayPal says that its policy of fining customers for spreading “misinformation” was an “error.” 

PayPal doesn’t fine people for telling lies.

PayPal Holdings Inc. (PYPL.O) announced on Monday that it will not fine users for providing incorrect information and that an earlier policy update stating that customers could face a $2,500 fine was sent in error.

Shares of the company based in San Jose, California, went down by almost 6% over the weekend after the update, which PayPal said “included incorrect information,” sparked a lot of anger on social media.

“PayPal doesn’t fine people for giving false information, and this part of our policy was never meant to be there. “We’re sorry that this has caused confusion,” a company representative said.

Several news outlets reported last week that PayPal had updated its policy to say that customers couldn’t use its services for “sending, posting, or publishing any messages, content, or materials” that spread false information.

Reports said that the new rule, which said that customers could be fined $2,500 for each violation, was supposed to go into effect on November 3.

In a tweet on Saturday, David Marcus, who used to be president of PayPal, said that the new policy “goes against everything I believe in.”

“Now, a private company can take your money if you say something they don’t like. Insanity “Marcus sent a tweet.

Elon Musk, the billionaire CEO of Tesla Inc. (TSLA.O) and co-founder of PayPal, replied to Marcus’s tweet with “Agreed.”