3 days ago · 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 ...

1 day ago · 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.”. Those actions ...

1 day ago · The Consumer Financial Protection Bureau (CFPB) has ordered Wise, a global remittance company, to pay nearly $2.5 million for several violations, including deceptive advertising and failure to ...

2 days ago · The CFPB ordered Wise to reimburse customers $450,000 and pay a $2.025 million fine. Wise said it voluntarily reimbursed the majority of customers in 2022 and cooperated fully with the CFPB's investigation, which began as a routine exam in mid-2020.

1 day ago · Wise responded to the CFPB’s claims, and a spokesperson commented on the penalty. Wise said it is a customer-first Fintech committed to the best experience possible. Apparently between June 2020 ...

2 days ago · CFPB found improper fee disclosures, refund practices President Trump expected to fire CFPB Director Chopra soon Global cross-border payments company Wise Plc agreed to a $2.5 million settlement with the Consumer Financial Protection Bureau for advertising incorrect fees and failing to properly disclose exchange rates and other costs.

3 days ago · 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. The CFPB found that Wise violated the Consumer Financial Protection Act of 2010 by advertising inaccurate ATM fees and charges to U.S. customers. The CFPB also found that Wise violated the Electronic Fund ...

1 day ago · It added: “While Wise strongly disagrees with the CFPB’s characterisation of Wise’s conduct, we worked with the CFPB in good faith to conclude the matter”.

3 days ago · On January 30, 2025, the Bureau issued an order against Wise US Inc., a nonbank remittance transfer provider headquartered in New York, New York. Skip to main content ... 2025-CFPB-0004. Topics Date filed JAN 30, 2025. Contact Information Administrative adjudication docket …

2 days ago · The CFPB has ordered Wise to pay $450,000 to harmed customers and another $2.025 million to the regulator's victims relief fund. “By deceiving customers, Wise gave itself an unfair advantage ...