MoneyGram Responds To CFPB Director's Public Statements - Quick Facts

(RTTNews) - MoneyGram International, Inc. (MGI) said the Consumer Financial Protection Bureau has failed to make anything beyond vague statements to support its allegations and has not identified any specific acts to justify its claims.

"Last week, CFPB Director Chopra on multiple occasions referred to MoneyGram as a 'repeat offender' company. This is false. The truth is that before the CFPB filed its lawsuit against the company on April 21, 2022, MoneyGram had never before been subject to any enforcement action by the CFPB," the company stated.

Also, MoneyGram said it is not aware of any potential follow-on state investigations into the company.

MoneyGram noted that it continues to work toward closing the merger transaction, with an expected closing date to occur sometime in the fourth quarter of 2022.