Western Union Scraps Intermex Deal After Regulatory Fight
By PYMNTS
AI summary of the source article
Western Union has terminated its agreement to acquire International Money Express following an impasse with California regulators. California's Department of Financial Protection and Innovation had granted conditional approval subject to consumer protection requirements.
Key facts
- Western Union terminated its agreement to acquire International Money Express (Intermex).
- The termination followed an impasse with California regulators.
- California's DFPI had granted conditional approval requiring the companies to address consumer protection concerns.
Source excerpt · PYMNTS
Western Union has terminated its agreement to acquire International Money Express (Intermex) after reaching what it described as an impasse with California regulators. California’s Department of Financial Protection and Innovation (DFPI) announced Tuesday (Nov. 11) that it had given conditional approval to the deal, provided the companies comply with the regulator’s consumer protection concerns. S…