Financial technology company Chime Financial Inc. agreed to pay more than $4.5 million to resolve claims that it failed to refund consumers in a timely manner when their accounts were closed.
San Francisco-based Chime will pay a $3.25 million civil money penalty and return at least $1.3 million to customers under a consent order the Consumer Financial Protection Bureau announced Tuesday.
“Fast-growing financial firms must treat their customers fairly and understand that federal law is not a suggestion,” CFPB Director Rohit Chopra said in a statement.
Chime, one of the largest nonbank fintechs operating in the US, offers checking and ...
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