Consumer Financial Protection Bureau
CFPB Orders Wise to Pay $2.5 Million for Illegal Remittance Practices
January 30, 2025
Summary
The CFPB has penalized Wise for failing to provide required disclosures for international money transfers. The company must pay a $2.5 million fine for violating the Electronic Fund Transfer Act and its implementing rule, the Remittance Transfer Rule.
Common questions
- What does "CFPB Orders Wise to Pay $2.5 Million for Illegal Remittance Practices" cover?
- The CFPB has penalized Wise for failing to provide required disclosures for international money transfers. The company must pay a $2.5 million fine for…
- Which agency issued this update?
- This update was issued by Consumer Financial Protection Bureau.
- When was it published?
- It was published on January 30, 2025.
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