http://pages.ebay.com/ebaypaypalupdates/
What are the specific changes to the eBay User Agreement?
Fees, holds, returns & cancellations, and Money Back Guarantee: Users now authorize eBay to instruct PayPal to make deductions from their PayPal account(s) for fees, returned items, items not as described, return shipping, cancellations (under our new cancellation policy), and Money Back Guarantee reimbursements. eBay will recommend, rather than request, when PayPal can restrict funds in a seller's PayPal account. We clarified language for holding seller funds, placing charges on a seller invoice and/or charging a payment method on file, and removing funds in a buyer's currency.
When do these updates take effect?
If you're a new eBay user who is registering for the first time, the new User Agreement and Privacy Notice are effective immediately. For all other users, they take effect on June 15, 2015.
In what instances will my personal information be shared between eBay and PayPal?
We may disclose your personal information to PayPal and its corporate family in order to:
Prevent, detect, mitigate, and investigate potentially illegal acts, fraud and/or security breaches, and to assess and manage risk, including to alert you if fraudulent activities have been detected on your eBay or PayPal accounts
Provide customer services, including to help service your account or resolve disputes (e.g., billing or transactional disputes)
Facilitate the processing of payment cards when you pay within our Services with a payment card and we use PayPal for payment processing
Facilitate shipping and related services for purchases you made using PayPal.
What are the specific changes to the eBay Privacy Notice?
eBay and PayPal data sharing: An entirely new sub-section under Disclosure to cover the authorized data sharing between eBay and PayPal.
Contacting users via electronic means: Additional language regarding our ability to contact users via email and on mobile devices—we have added/clarified some of the language in our Use and Retention section regarding our use of some personal information (emails, mobile phone numbers) to contact users.
eBay and PayPal will be separate companies soon 
