Why You Shouldn’t Send Money with MoneyGram

Money transfer company is repeat offender of financial crimes

Andy Spears
2 min readApr 23, 2022
Photo by Alistair MacRobert on Unsplash

The Consumer Financial Protection Bureau (CFPB) and the New York Attorney General filed suit against remittance provider MoneyGram alleging the company’s practices repeatedly harmed consumers.

According to the complaint, MoneyGram systematically and repeatedly violating various consumer financial protection laws and leaving families high and dry. The lawsuit specifically alleges that the company stranded customers waiting for their money when it failed to deliver funds promptly to recipients abroad.

In a statement, the CFPB noted that MoneyGram is a repeat offender, and its practices continue to harm consumers.

“MoneyGram spent years failing its customers and failing to follow the law, ignoring customer complaints and government warnings in the process,” said CFPB Director Rohit Chopra. “MoneyGram’s long pattern of misconduct must be halted.”

The specific allegations of this complaint against MoneyGram include:

  • Stranded customers waiting for their money: Customers paid MoneyGram to transmit money as quickly as possible, but MoneyGram failed to do so and instead held up funds unnecessarily. Holding the money in limbo resulted in needless…



Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .