CFPB Orders Wise to Pay $2.5 Million for Illegal Remittance …
Jan 30, 2025 · The CFPB is ordering Wise to pay approximately $450,000 in redress to harmed consumers and to pay a $2.025 million civil money penalty. “By deceiving customers, Wise gave itself an unfair advantage over other competitors in the remittances market,” said CFPB Director Rohit Chopra. “New technology can help make money transfers cheaper and ...
Wise US Inc. | Consumer Financial Protection Bureau
On January 30, 2025, the Bureau issued an order against Wise US Inc., a nonbank remittance transfer provider headquartered in New York, New York. Wise is a subsidiary of Wise PLC, a publicly traded, global electronic money services corporation headquartered in the …
CFPB orders remittance transfer provider to pay almost $2.5 …
On January 30, 2025, the CFPB ordered Wise, an international remittance company, to pay almost $2.5 million in connection with allegations of illegal activities, including advertising inaccurate fees and failing to properly disclose exchange rates and other costs.
Wise submits Open Banking comment letter to the CFPB
Feb 8, 2021 · As the US moves towards implementing its first ever regulations, Wise offered comments from its perspective as one of the UK’s largest open banking payments initiators, at one point originating as much as 70% of transactions. Our recommendations to the CFPB include: Ensure a consumer right to financial data access;
CFPB fines fintech Wise, alleging it charged deceptive fees
Jan 31, 2025 · The Consumer Financial Protection Bureau (CFPB) has hit U.K.-based remittance company Wise with about a $2 million fine for what it described as “a series of illegal actions.”
Wise US Inc. - Consumer Financial Protection Bureau
On January 30, 2025, the Bureau issued an order against Wise US Inc., a nonbank remittance transfer provider headquartered in New York, New York.
Wise to Settle CFPB Allegations Around Ads and Disclosures
International remittance company Wise and the Consumer Financial Protection Bureau (CFPB) reached an agreement to settle the regulator’s allegations that the company advertised inaccurate...
CFPB orders Wise to pay $2.5M for illegal remittance practices
Jan 30, 2025 · The Consumer Financial Protection Bureau ordered digital remittance provider Wise U.S. Inc. to pay $2.5 million for advertising inaccurate fees and failing to properly disclose exchange rates, a characterization that the company said it disagreed with.
CFPB Orders Wise to Pay $2.5 Million for Illegal Remittance …
Jan 30, 2025 · Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) today ordered the international remittance company Wise to pay nearly $2.5 million for a series of illegal actions, including advertising inaccurate fees and failing …
Wise Responds to CFPB Claims, Penalty - Crowdfund Insider
Jan 31, 2025 · Yesterday, the Consumer Financial Protection Bureau (CFPB) issued a statement pertaining to an enforcement action against global Fintech Wise. The action arrived with a $2.5 million penalty...