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Financial Institutions › Remittance Transfer Rule › Settlement

Orrick, Herrington & Sutcliffe LLP

New York attorney general obtains $250K in CFPB’s dropped case

Orrick, Herrington & Sutcliffe LLP on

On June 16, the New York attorney general settled a civil action against a remittance provider in a case dropped by the CFPB earlier this year, which as previously covered by InfoBytes, left the State of New York as the sole...more

Sheppard Mullin Richter & Hampton LLP

CFPB Reduces Civil Penalty in Settled Remittance Enforcement Action

Sheppard Mullin Richter & Hampton LLP on

On May 15, the CFPB issued an amended consent order against an international remittance provider, reducing its civil penalty from $2.025 million to $44,955. The order alleges violations of the Electronic Fund Transfer Act...more

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