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 ...

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 for ...

The CFPB said Wednesday that New York-based Wise misled customers by advertising inaccurate ATM fees and failed to refund remittance fees when customers sent money that did not arrive on time. Wise, a ...

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 ...

However, the CFPB noted that Wise must still set aside approximately $450,000 in a segregated account as redress for affected consumers. A Wise spokesperson confirmed the fintech has voluntarily ...

Wise has shared a statement with CI in support of the CFPB’s decision. Via a spokesperson, Wise shared their opinion: “The finalized rule from the CFPB on open banking is a crucial step ...

A regulatory decision against fintech company Wise has raised questions about transparency and compliance in financial services. The U.S. Consumer Financial Protection Bureau (CFPB) has fined Wise ...

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Wise allows customers to send, receive, and store remittances through ...

The CFPB then in February 2022 highlighted certain issues where Wise claims it had “inadvertently been operating in ways the Bureau deemed necessary to address.” Wise said that it ...