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.
Pursuant to the consent order, Wise must pay approximately $450,000 in redress to harmed consumers and pay a $2.025 million civil penalty to the CFPB.… Continue Reading