Western Union agrees to pay $60M to NYDFS to resolve investigation
Western Union Financial Services, a subsidiary of The Western Union Company, announced that it has agreed to a consent order with the New York Department of Financial Services. This agreement resolves a previously disclosed investigation by NYDFS into facts set forth in The Western Union company's January 2017 deferred prosecution agreement with the U.S. Department of Justice, in which the company acknowledged deficiencies in its compliance programs during the 2004 to 2012 period. Under the terms of the consent order, WUFSI will pay a total of $60M to NYDFS to resolve violations of New York law arising out of the facts set forth in the DPA. The Western Union Company previously accrued $49M towards resolution of this matter.