CALIFORNIA | LOCAL
November 5, 1997
The Western Union and MoneyGram companies have been accused of failing to tell customers that the firms deducted a currency conversion fee from funds wired to victims of Hurricane Pauline in Latin America. Attorney Fred J. Kumetz said in a federal lawsuit filed Monday that despite announcing that they would wire money to the hurricane victims without charge, the firms subtracted a fee of about 10% for converting dollars into Mexican pesos and other Latin American currencies.
January 31, 2001 |
MoneyGram Payment Systems Inc. on Tuesday unveiled simplified and reduced rates for customers wiring money to Mexico, a strategy designed to win back some of the business the company has lost in recent years to new competitors. Called Cambio Plus, the new program allows customers to transfer any amount of money to Mexico for a flat fee of $15. MoneyGram also is offering a more favorable exchange rate than previously.
October 10, 2001 |
An appellate court has cleared the way for a settlement worth up to $400 million for people who sent money to Mexico through this country's biggest wire transfer companies from 1987 to 1999. Plaintiffs in three states had claimed the wire transfer companies--Western Union, Orlandi Valuta and MoneyGram--charged hidden and excessive fees to predominantly immigrant consumers, leading to a federal court settlement last year in which the companies agreed to give discount coupons to former customers.
May 13, 1999 |
MoneyGram and Western Union announced a nationwide settlement Wednesday to compensate millions of immigrants who allegedly paid exorbitant hidden fees when wiring money from the United States to Mexico for more than a decade. The settlement aims to remedy the companies' widely criticized practice of using currency exchange rates that are far less favorable than the prevailing daily rates without informing customers, many of them immigrants who can least afford it.
August 17, 1999 |
A group of California politicians, civil rights groups and Latino community leaders were expected today to announce their opposition to a preliminary settlement by Western Union and MoneyGram that would compensate immigrants nationwide who allegedly paid exorbitant hidden fees when wiring money to Mexico.
November 17, 1999 |
Support among California Latino leaders was crumbling Tuesday for an enhanced settlement to a federal class-action lawsuit alleging three money-wiring companies charged immigrants steep hidden costs to send money to Mexico. State Sen. Richard Polanco (D-Los Angeles), who helped broker the deal with Western Union, MoneyGram and Orlandi Valuta, opted out of a scheduled news conference in the 11th hour after a coalition of Latino groups accused him of selling out and betraying his constituents.