United States of America: Attorney General announced lawsuit against MoneyGram over alleged violation of consumer protection laws (Attorney General of New York v MoneyGram International) (Case No. 22-cv-3256)
Description
Attorney General announced lawsuit against MoneyGram over alleged violation of consumer protection laws (Attorney General of New York v MoneyGram International) (Case No. 22-cv-3256)
On 21 April 2022, New York Attorney General and the Consumer Financial Protection Bureau filed a lawsuit against MoneyGram for allegedly violating consumer protection laws. It was highlighted that MoneyGram repeatedly failed to deliver funds on time, inaccurately disclosed fund availability, neglected required error-resolution procedures, and lacked proper compliance policies.
Original sourceScope
Policy Area
Consumer protection
Policy Instrument
Quality of Service requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
subnational
Government Branch
executive
Government Body
consumer protection authority