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Business ProfileforChime Financial, Inc.
Additional business information
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On May 7, 2024, Chime Financial Inc. agreed to a consent order (File No:2024-CFPB-0002) brought against the company by the Consumer Financial Protection Bureau (CFPB).
According to the Stipulation, Chime was in violation of the Consumer Financial Protection Act 2010, when the company failed to issue refunds according to their policy of 14 days. It was alleged that consumers waited longer than the 14 days and many waited longer than 90 days to be issued their refund.
Without an admission or denial, as part of the consent order Chime has agreed to pay $1.3 million in redress to harmed consumers, $3.25 million in civil penalties to the CFPB’s victims’ relief fund and must be in compliance with the law pertaining to the issuance of refund check on closed accounts.
The Following describes a government action that has been resolved by either a settlement by a decision by a court or an administrative agency. If the matter is being appealed, it will be noted below.
On February 21, 2024, Chime Financial Inc. entered into to a consent agreement for allegations brought against the company by the Consumer Financial Protection Bureau (CFPB).
According to the CFPB, Chime was in violation of Financial code section 90003 subdivision (a), when the company engaged in unfair acts with respect to consumer financial products or services. The findings of the investigation show occasional mistakes that occurred in Chime’s responsiveness to complaints.
Without an admission or denial, as part of the consent order Chime has agreed to pay $2.5 million to the CFPB and to make internal changes that will ensure customer service support 24 hours a day, ensure sufficient customers support staffing and training and to investigate and implement policies and procedures to maintain the proper handling of consumer complaints.
At-a-glance
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Overview
Business Details
- Location of This Business
- 101 California St Ste 500, San Francisco, CA 94111-5802
- BBB File Opened:
- 11/6/2014
- Years in Business:
- 11
- Business Started:
- 8/20/2012
- Business Incorporated:
- 8/20/2012
- Type of Entity:
- Corporation
- Number of Employees:
- 1250
- Additional Contact Information
Email Addresses
- Primary
Website Addresses
Customer Complaints
8,142 Customer Complaints
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File a ComplaintMost Recent Customer Complaint
06/02/2024
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Resolved
Customer Reviews
3,322 Customer Reviews
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Most Recent Customer Review
Estrellita G
06/13/2024
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