Wise: CFPB consent order (May 2025)
The CFPB issued a consent order against Wise on May 15, 2025, according to the agency’s own announcement.
- Date
- Agency
- CFPB
- Action
- Consent order
- Amounts (as stated)
- approximately $450,000 redress plus $44,955 penalty
- Admission
- Without admitting or denying (Jan. 2025 consent order)
The CFPB found Wise misled U.S. customers about ATM fees, failed to properly disclose fees and exchange rates, and did not refund remittance fees on time; a May 2025 amended order cut the January 2025 penalty from $2.025 million to about $45,000.
Money involved. Approximately $450,000 redress plus $44,955 penalty; penalty: $44,955 civil money penalty (reduced from $2.025 million in the Jan. 30, 2025 order).
Admission. Without admitting or denying (Jan. 2025 consent order).
Questions
What did the CFPB say Wise did?
The CFPB found Wise misled U.S. customers about ATM fees, failed to properly disclose fees and exchange rates, and did not refund remittance fees on time.
How much is Wise paying?
Approximately $450,000 redress plus $44,955 penalty.
See every action in the fintech and crypto enforcement tracker.
- Company (as named)
- Wise US Inc.
- Category
- Payments
- Civil penalty, USD
- $44,955
- Agency announcement
- consumerfinance.gov
- Order or complaint
- files.consumerfinance.gov
- Sources
Source Link CFPB announcement https://www.consumerfinance.gov/about-us/newsroom/cfpb-amends-wise-order-for-remittance-practices/ date https://www.consumerfinance.gov/enforcement/actions/wise-us-inc/ admission https://files.consumerfinance.gov/f/documents/cfpb_wise-us-inc-consent-order_2025-01.pdf
Source: the agency’s own press release, litigation release, order or complaint, linked on each record. Charges are allegations; a company is not liable unless a court or agency finds it so.