The Consumer Financial Protection Bureau on April 17, 2026 amended a consent order it had entered with Wise — the London-headquartered remittance company publicly traded under the ticker LON: WISE — resolving claims that Wise misled U.S. customers about ATM fees, failed to properly disclose exchange rates and other costs, and did not refund remittance fees on time when transfers arrived late. Wise US, a wholly owned Delaware-incorporated subsidiary headquartered in New York, serves more than three million U.S. customers across 48 states, the District of Columbia, Guam, the U.S. Virgin Islands, and Puerto Rico through a mobile app and prepaid and debit card products.
The original January 30, 2025 consent order required Wise to pay approximately $450,000 in consumer redress — covering at least 16,000 consumers the CFPB said were overcharged through prepaid card violations — and a $2.025 million civil penalty to the CFPB's victims relief fund.
The May 15, 2025 Amended Consent Order supersedes that earlier order. It keeps the consumer redress obligation but replaces the $2.025 million fine with a revised civil penalty of approximately $45,000. (Note: the source packet lists a press release date of April 17, 2026, but references a May 15, 2025 Amended Consent Order; this apparent date discrepancy should be confirmed before publication.)
The CFPB said the reduced penalty aligns with 12 U.S.C. § 5565(a)(2)(H) and (c)(4), relevant precedents for the conduct and cooperation at issue, and Executive Order 14219 issued February 19, 2025. The bureau also cited its own rescission of Consumer Financial Protection Circular 2024-02 — titled Deceptive marketing practices about the speed or cost of sending a remittance transfer and published at 89 FR 27357 on April 17, 2024 — as a basis for the amendment.
The action is an amendment to an existing administrative consent order, not a new substantive ruling. No novel legal standard was announced.