MoneyGram falls as regulators sue over remittance rule violations

MoneyGram International

21/04/2022 17:04

** Shares of remittance provider  MGI.O  down 7.5% at $9.88
after co is sued by U.S. and New York regulators for violating
federal money transfer rules meant to promote transparency
    ** MGI was sued for repeatedly giving inaccurate information
to senders about when money would be available to recipients
abroad  urn:newsml:reuters.com:*:nL2N2WJ1GV
    ** Complaint was filed in Manhattan federal court by U.S.
Consumer Financial Protection Bureau and New York Attorney
General Letitia James
    ** Regulators also addressed concerns related to MGI's
repeated failure to address customer complaints 
    ** YTD, shares up 7.5%

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))