MoneyGram disclosed it expects to pay a total of $15.8 million to settle two separate investigations by the New York State Department of Financial Services (NYDFS) and the Consumer Financial Protection Bureau (CFPB).
As part of an annual report filed with the Securities and Exchange Commission on Feb. 25, MoneyGram said it set aside $8.3 million to settle an inquiry by the NYDFS into the activities of “certain of our New York-based agents.” The New York investigation stems from a previous deferred prosecution agreement (DPA) entered into by MoneyGram with the Department of Justice (DOJ) in 2012 that was extended in 2018.
