Servicio UniTeller, Inc.
On December 22, 2022, the Bureau issued an order against Servicio UniTeller, Inc. (UniTeller), a nonbank remittance transfer provider headquartered in Rochelle Park, New Jersey. UniTeller offers and provides to consumers international money transfer services, known as remittance transfers, in 48 states and the District of Columbia and has more than 200,000 payment locations in more than 70 countries. The Bureau found that since 2013, UniTeller has engaged in wide-ranging failures to comply with the Electronic Fund Transfer Act (EFTA) and its implementing Regulation E, including Subpart B, known as the Remittance Transfer Rule. These include failures to: (1) provide tax and fee refunds when required to remedy errors; (2) accurately inform senders of cancellation rights; (3) accurately disclose the date funds would be available; (4) accurately characterize key terms; (5) use required minimum font sizes; (6) develop and maintain compliant written error resolution policies and procedures; and (7) retain evidence showing its compliance with the Remittance Transfer Rule and EFTA. These violations also constitute violations of the CFPA. The order requires UniTeller to provide approximately $30,000 in redress to consumers harmed by UniTeller’s failures to provide timely remittance-transfer funds and to pay a civil money penalty of $700,000. UniTeller must also take measures to ensure future compliance.