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October 19, 2021

Posted  October 19, 2021

JPay, a financial services company which, among other services, provides debit cards to prisoners to meet their essential needs as they are released from incarceration, will pay $6 million – $4 million in restitution and $2 million as a civil penalty – to resolve allegations that they violated the Consumer Financial Protection Act and Electronic Fund Transfer Act by charging consumers unlawful fees.  As part of the settlement, JPay is also limited in fees it can impose on release cards going forward.  CFPB

Tagged in: Correctional Services Fraud, Financial and Investment Fraud, Financial Institution Fraud,