US consumer watchdog fines Chime $3.25 million for delaying refunds

The Chime logo is seen on a smartphone placed on U.S. dollars banknotes in this illustration taken January 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Digital bank Chime will pay a penalty of $3.25 million to the U.S. Consumer Financial Protection Bureau (CFPB) for failing to issue timely refunds to customers who closed their accounts, and will return at least $1.3 million to customers, the regulator said on Tuesday.

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