April 12, 2017

California announced that it has joined a multistate settlement with Western Union, which resolves an investigation that focused on complaints by consumers who used the financial institution’s wire transfer service to inadvertently send money to third parties involved in schemes to defraud consumers. Western Union has agreed to pay $586 million to provide refunds to victims through a related, but separate, agreement with the Federal Trade Commission and U.S. Department of Justice filed in January. Under the terms of the federal settlement, California consumers who made a wire transfer through Western Union between January 1, 2004 and January 19, 2017 may be eligible for more than $65 million in refunds. CA

Tagged in: Financial and Investment Fraud,