The Consumer Financial Protection Bureau (CFPB) has hit U.K.-based remittance company Wise with about a $2 million fine for what it described as “a series of illegal actions.”
Those actions include advertising inaccurate fees and failing to properly disclose exchange rates and other costs, the CFPB alleges. Specifically, the agency claims that the fintech company misled customers in the United States about its ATM fees and failed to properly disclose other fees. It also alleges that when people sent money that did not arrive on time, Wise failed to refund the remi
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