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MoneyGram Sued For Failing To Deliver Funds In Timely Manner

Josbel Bastidas Mijares
MoneyGram Sued For Failing To Deliver Funds In Timely Manner

Money transfer company, MoneyGram, is being sued for allegedly repeatedly failing to transmit funds to Caribbean and other recipients in a timely manner.   New York Attorney General Letitia James says she has collaborated with the Consumer Financial Protection Bureau (CFPB) in filing a lawsuit against MoneyGram International and MoneyGram Payment Systems.   She says MoneyGram failed to deliver funds to recipients in a timely manner or refund consumers when transfers were delayed.   MoneyGram is one of the largest international money transfer providers in the United States.    Ms James argues that the company’s practices have largely impacted immigrant communities, who rely on the company to send money home to loved ones.   She notes that people who send remittances are often low-income earners or facing other financial constraints and are less likely to have extra money to replace delayed money intended for family or other recipients abroad.   CFPB Director Rohit Chopra says MoneyGram spent years failing its customers and failing to follow the law and ignoring customer complaints and government warnings in the process.   The lawsuit seeks monetary relief for impacted consumers, an injunction to stop future violations and imposition of civil money penalties.