Consumer Bureau Action Tracker

CFPB – Dwolla, Inc.




Dwolla, Inc.


Enforcement, Credit Cards

The CFPB fined Dwolla Inc. for a failure to implement “‘reasonable and appropriate’ security policies governing the ‘storage of consumers’ personal information.” Dwolla agreed to pay $100,000 in fines.

  • In March 2016, “Iowa-based fintech firm Dwolla Inc. agreed to pay a $100,000 financial penalty this month after the consumer protection bureau alleged the peer-to-peer online payments system provider had failed to adopt and implement ‘reasonable and appropriate’ data security policies and procedures governing the collection, maintenance, or storage of consumers’ personal information.” [Barbara Shecter, “Fintechs Face Calls For More Regulation,” Vancouver Sun, 04/10/16]


Inactive or Resolved

2016-CFPB-0007 5/2/2016 5/2/2016

CFPB Takes Action Against Dwolla for Misrepresenting Data Security Practices

  • Consumer Financial Protection Bureau (CFPB)
  • Administrative filing
  • None
  • Nonbank
  • $100,000
  • Not Available



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