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Chime must pay $4.55 million for taking too long to refund customers.
The Consumer Financial Protection Bureau (CFPB) ordered the online banking service to pay the penalty after customers waited “weeks or months” to access their funds after closing their accounts.
Chime will pay $1.3 million to customers affected by the delays, while the remaining $3.25 million penalty will go toward the CFPB’s victims relief fund.
CFPB Takes Action Against Chime Financial for Illegally Delaying Consumer Refunds
[Consumer Financial Protection Bureau]
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