The FTC and DOJ ordered MoneyGram to refund $115 million to nearly 40,000 consumers for its continued failure to protect against fraudulent scammers using their payment system.
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The FTC charged a retail corporation with failing to take appropriate and effective measures in a timely fashion to detect and prevent fraud in the processing of money transfers sent and received by consumers at store locations.
The House Financial Services Committee considered legislation to (i) prohibit retail businesses from refusing cash payments and (ii) encourage an increase in mobile banking and electronic payment technologies.