On June 13, Judge Katherine Polk Failla of the U.S. District Court for the Southern District of New York entered a stipulated final judgement resolving claims brought by the New York Attorney General against a global money transmitter. The lawsuit, initially filed in partnership with the CFPB (previously discussed here), alleged violations of the Electronic Fund Transfer Act (EFTA), including the Remittance Rule under Regulation E, as well as the Consumer Financial Protection Act (CFPA).Continue Reading New York AG Secures $250,000 Settlement With Money Transmitter Over Remittance Rule Violations
