Company: IMXI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001683695-25-000030
Chunk: 13

Company: International Money Express, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 13
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 cancel transactions that have not been completed at a consumer’s request. As a “larger participant” in the market for international money transfers, we are subject to direct examination and supervision by the CFPB. 

In addition, under the Dodd-Frank Act, it is unlawful for any provider of consumer financial products or services to engage in unfair, deceptive, or abusive acts or practices. The CFPB has substantial rule making and enforcement authority to prevent unfair, deceptive, or abusive acts or practices in connection with any transaction with a consumer for a financial product or service. We expect the new presidential administration will seek to implement a regulatory agenda that is significantly different from that of the prior administration, which may affect the rulemaking, supervision, examination and enforcement priorities of the CFPB.

In addition, each state in the United States may from time to time, enact new laws and regulations, such as the CCPA and the CPA, which create new consumer rights relating to the access to, deletion of, and sharing of personal information that is collected by businesses. We have taken the necessary steps to review, modify and implement, as needed, policies and procedures designed to comply with the CFPB’s Remittance Transfer Rule and the various state laws. The number of comprehensive state privacy laws are expected to continue to increase, creating additional risks and complexity due to variations among applicable state laws.

Furthermore, as our operations and services involve the collection, storage, and processing of personal data of consumers globally, we are subject to the European Union’s General Data Protection Regulation (“GDPR”) and similar data protection laws outside the United States. The GDPR imposes strict requirements on how businesses collect, process, store, and share personal data, as well as mandates that consumers have specific rights, including the right to access, correct, and delete their data. For especially severe violations, the GDPR fines can be up to €20 million, or in the case of an entity, up to 4% of its total global revenue for the preceding fiscal year, whichever is higher. We continue to enhance our efforts to ensure compliance and adapt to evolving data privacy laws and the increased exposure of our operations to such laws as a result of our geographic expansion.

The Company’s communications, advertising and sales practices and that of its agent network are subject to regulation by, among other things, state and federal consumer protection laws including the Telephone Consumer Protection Act (“TCPA”). The FTC and the Federal Communications Commission have issued regulations under the TCPA that place restrictions on, among other things, unsolicited