United States of America: Consumer Financial Protection Bureau investigation into Wise for alleged misleading advertising and transparency violations
Progress
Current status
in force
30 Jan 2025 in force
Scope
Implementers
United States of America
Policy Area
Consumer protection
Policy Instrument
Fair marketing and advertising practice requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
consumer protection authority
Implementation Level
national
Timeline of events
Consumer Financial Protection Bureau issued ruling against Wise for misleading advertising and transparency violations
On 30 January 2025, the Consumer Financial Protection Bureau (CFPB) issued an order against Wise, a digital payment provider, for misleading advertising and transparency violations affecting US consumers. The CFPB determined that Wise violated the C…
SourceEvent type
investigation
Action type
ruling
Government branch
executive
Government body
consumer protection authority