Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
Bureau dings Chime, orders it to pay $4.55 million over untimely account-closure refunds
The financial-technology (fintech) firm Chime Financial must pay a $3.25 million civil money penalty (CMP) and provide at least $1.3 million in consumer redress for its failure to timely provide consumers their account balance refunds […]