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What will be the impact on Walmart's stock price within a month of CFPB lawsuit resolution?
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Story
CFPB Sues Walmart and Branch Messenger for Coercing Drivers into Costly Accounts, Resulting in Over $10M in Fees
Dec 23, 2024, 02:40 PM
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Walmart Inc. and Branch Messenger, alleging that they coerced delivery drivers into using costly deposit accounts without their consent. The lawsuit claims that these practices resulted in over $10 million in fees for the drivers, who faced delays and misleading payment practices. The CFPB stated that the lawsuit addresses the deceptive tactics used to force gig economy drivers to access their earnings through these accounts. This legal action highlights concerns over the treatment of 'last-mile' delivery drivers and their financial well-being.
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