United States of America: Issued CFPB ruling in the investigation into Chime over alleged delaying of consumer refunds
Description
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…
Scope
Policy Area
Consumer protection
Policy Instrument
Quality of Service requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
consumer protection authority