Original Source Material
The CFPB amended its January 30, 2025 consent order with the international remittance company Wise resolving claims including advertising inaccurate fees and failing to properly disclose exchange rates and other costs.
CFPB Amends Wise Order for Remittance Practices
Summary
- The CFPB amended a January 30, 2025 consent order with Wise regarding inaccurate fee advertising and inadequate disclosure of exchange rates.
- This amendment focuses on remittance practices.
Why It Matters for Texas Credit Unions
Relevant as it involves remittance practices which are common in Texas CUs and highlights the importance of accurate fee disclosures and proper cost transparency.