United States of America: CFPB investigation into Chime over alleged delaying of consumer refunds
Progress
Current status
in force
07 May 2024 in force
Scope
Implementers
United States of America
Policy Area
Consumer protection
Policy Instrument
Quality of Service requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
consumer protection authority
Implementation Level
national
Timeline of events
Issued CFPB ruling in the investigation into Chime over alleged delaying of consumer refunds
On 7 May 2024, the Consumer Financial Protection Bureau (CFPB) issues a ruling following its investigation into Chime concerning alleged delays in issuing consumer refunds. The CFPB determined that Chime had failed to fulfil its obligation of issuin…
SourceEvent type
investigation
Action type
ruling
Government branch
executive
Government body
consumer protection authority