- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-05-07T17:48:00
The Consumer Financial Protection Bureau (CFPB) ordered Chime Financial to pay $3.25 million in penalties for allegedly delaying consumer refunds past its promised 14-day timeframe.
Chime agreed to pay at least $1.3 million in redress to harmed consumers in reaching settlement, the CFPB announced in a press release Tuesday.
The financial technology company further agreed to implement a compliance plan; provide compliance progress reports; and update its board and chief executive on compliance obligations, including reporting, recordkeeping, and monitoring requirements, according to its consent order.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Register for free
Access one free, non-premium article each month.
Complimentary CPE webcasts, resources, and e-Books.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Digital wallet company PayPal disclosed it won’t face enforcement regarding a Consumer Financial Protection Bureau probe into its subsidiary Venmo.
The Consumer Financial Protection Bureau continued its push to establish supervisory authority over more nonbank financial companies with the adoption of a procedural rule to streamline the process for such designations.
Installment lender World Acceptance Corp. was the subject of the Consumer Financial Protection Bureau’s first use of a dormant legal provision allowing it to establish supervisory authority over more nonbank financial companies.
The Department of Justice ordered Cape Cod Hospital to pay nearly $24.4 million to settle alleged False Claims Act violations that it knowingly submitted claims to the government for procedures that failed to comply with Medicare rules.
Evoqua Water Technologies agreed to pay $8.5 million as part of a nonprosecution agreement with the Department of Justice to settle admitted criminal charges related to fraudulent revenue recognition.
The Department of Homeland Security announced its largest batch of additions to the list of companies blocked under the Uyghur Forced Labor Prevention Act in the form of a sweep of the Chinese textile industry.
