MoneyGram puts $16 million price tag on potential NY and CFPB deals

By Emilie Ruscoe (February 28, 2022, 5:51 PM EST) – Money transfer company MoneyGram International Inc. said it has set aside nearly $16 million to pay for potential settlements it is discussing with the Department of financial services and the New York Consumer Financial Protection Bureau.

In an annual report filed Friday with the U.S. Securities and Exchange Commission, Dallas-based MoneyGram said its best estimate for settlement sums in the two cases was $8.3 million for the DFS case and $7.5 million for the CFPB case. The company is currently in negotiations with both regulators, he said, and no settlement has been finalized.

According to MoneyGram, the DFS affair began in…

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Richard L. Militello