MoneyGram on Wednesday announced it will pay $8.25 million as part of a settlement with the New York State Department of Financial Services (NYDFS) for supervision failures regarding local agents processing suspicious transactions in China.
The monetary value of the finalized agreement was disclosed by MoneyGram as part of an annual report filed with the Securities and Exchange Commission last month. The company has also set aside $7.5 million for a potential settlement with the Consumer Financial Protection Bureau to address a separate matter that is ongoing.
