MoneyGram May Face CFPB Enforcement Action

Law360 (May 10, 2021, 4:50 PM EDT) -- Money transfer company MoneyGram International Inc. said Friday it has received notice from the Consumer Financial Protection Bureau that the agency is considering taking legal action against the company over alleged violations tied to federal money transfer rules.

In a quarterly report filed Friday with the U.S. Securities and Exchange Commission, the payment services company said that after a year of exchanging communications with the CFPB, the agency may file an enforcement action against it based on alleged violations of the Remittance Rule, the Electronic Fund Transfer Act and the Consumer Financial Protection Act.

MoneyGram said that in February 2020, it...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!