The Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James filed a lawsuit against MoneyGram in federal court, alleging the money remittance company has failed to fulfill the compliance obligations placed upon it in previous enforcement actions.
The CFPB and NYAG filed the lawsuit Thursday in U.S. District Court for the Southern District of New York, after the two sides apparently failed to reach a settlement regarding allegations that MoneyGram held up money transfers unnecessarily; failed to implement clear policies and procedures for resolving disputes; and for failing to ensure compliance with a federal money-transferring law.
