Latest news with #Arkansas-based
NBC News
2 hours ago
- Business
- NBC News
Walmart to pay $10 million to settle lawsuit over money transfer fraud
Walmart has agreed to pay $10 million to settle a U.S. Federal Trade Commission civil lawsuit accusing the world's largest retailer of ignoring warning signs that fraudsters used its money transfer services to fleece consumers out of hundreds of millions of dollars. The settlement was filed on Friday in Chicago federal court, and requires approval by U.S. District Judge Manish Shah. Walmart also agreed not to process money transfers it suspects are fraudulent, or help sellers and telemarketers it believes are using its services to commit fraud. 'Electronic money transfers are one of the most common ways that scammers tell consumers to send them money, because once it's sent, it's gone for good,' said Christopher Mufarrige, director of the FTC consumer protection bureau. 'Companies that provide these services must train their employees to comply with the law and work to protect consumers.' The Arkansas-based retailer did not admit or deny wrongdoing in agreeing to settle. Walmart did not immediately respond to requests for comment. In its June 2022 complaint, the FTC accused Walmart of turning a blind eye to fraudsters who used its money transfer services to cash out at its stores. Walmart acts as an agent for money transfers by companies such as MoneyGram and Western Union. Money can be hard to trace once delivered. The FTC said fraudsters used many schemes that included impersonating Internal Revenue Service agents, impersonating family members who needed money from grandparents to avoid jail, and telling victims they won lotteries or sweepstakes but owed fees to collect their winnings. Shah dismissed part of the FTC case last July but let the regulator pursue the remainder. Walmart appealed from that decision. Friday's settlement would end the appeal.
USA Today
3 hours ago
- Business
- USA Today
Walmart to pay $10 million to settle FTC fraud lawsuit over money transfers
Walmart WMT.N has agreed to pay $10 million to settle a U.S. Federal Trade Commission civil lawsuit accusing the world's largest retailer of ignoring warning signs that fraudsters used its money transfer services to fleece consumers out of hundreds of millions of dollars. The settlement was filed on Friday in Chicago federal court, and requires approval by U.S. District Judge Manish Shah. Walmart also agreed not to process money transfers it suspects are fraudulent, or help sellers and telemarketers it believes are using its services to commit fraud. "Electronic money transfers are one of the most common ways that scammers tell consumers to send them money, because once it's sent, it's gone for good," said Christopher Mufarrige, director of the FTC consumer protection bureau. "Companies that provide these services must train their employees to comply with the law and work to protect consumers." Average worker pay: Walmart reveals its highest paying job, excluding managers The Bentonville, Arkansas-based retailer did not admit or deny wrongdoing in agreeing to settle. Walmart did not immediately respond to requests for comment. In its June 2022 complaint, the FTC accused Walmart of turning a blind eye to fraudsters who used its money transfer services to cash out at its stores. Walmart acts as an agent for money transfers by companies such as MoneyGram, Ria EEFT.O and Western Union WU.N. Money can be hard to trace once delivered. The FTC said fraudsters used many schemes that included impersonating Internal Revenue Service agents, impersonating family members who needed money from grandparents to avoid jail, and telling victims they won lotteries or sweepstakes but owed fees to collect their winnings. Shah dismissed part of the FTC case last July but let the regulator pursue the remainder. Walmart appealed from that decision. Friday's settlement would end the appeal. The case is Federal Trade Commission v Walmart Inc, U.S. District Court, Northern District of Illinois, No. 22-03372. Reporting by Jonathan Stempel in New York; Editing by Marguerita Choy
USA Today
4 days ago
- Sport
- USA Today
Austin Reaves: 'I want to play my whole career' with Lakers
Austin Reaves: 'I want to play my whole career' with Lakers There have been some rumors that the Los Angeles Lakers could look to trade guard Austin Reaves this summer. Even more than that, there is a sizable number of Lakers fans who want the team to trade him or even feel it will be necessary to ship him out if the team is to seriously contend for the NBA championship. Reaves raised his production yet again this season and averaged 20.2 points and 5.8 assists a game. His scoring and shooting percentages rose after Luka Doncic was sent to Los Angeles in early February, but he struggled in the first round of the playoffs when the team lost to the Minnesota Timberwolves in five games. Reaves hosted his annual kids' basketball camp this past weekend, and per Arkansas-based KAIT, he said he wants to remain with the Lakers for good. 'I think the sky's the limit for us,' he said. 'We're moving in the right direction. Obviously, adding Luka (Doncic), it gives you a hall of fame player such a young age that you can build around, and then obviously, still having Bron (Lebron James), the IQ, and still running around at forty years old, but I want to be in LA. I want to play my whole career in LA. I love it there. I love the fans. Love the weather, love the golf. And obviously the Lakers is the best organization in basketball. (on trade rumors) I don't pay attention to it. I keep my head down work, and I feel like that's one of the reasons I'm where I'm at.' Deciding whether to trade Reaves isn't a straightforward matter for the Lakers. He has a player option for the 2026-27 season, and as a result, he can opt out and become a free agent next summer. Right now, his contract, which will pay him $13.9 million next season, has to be considered a major bargain. According to Eric Pincus of Bleacher Report, the Arkansas native is expected to opt out in 2026 and seek a new contract that would pay him roughly $30 million a year.
Yahoo
12-06-2025
- Automotive
- Yahoo
America's Car-Mart: Fiscal Q4 Earnings Snapshot
ROGERS, Ark. (AP) — ROGERS, Ark. (AP) — America's Car-Mart Inc. (CRMT) on Thursday reported profit of $10.6 million in its fiscal fourth quarter. On a per-share basis, the Rogers, Arkansas-based company said it had profit of $1.26. The auto retailer posted revenue of $370.2 million in the period. For the year, the company reported profit of $17.9 million, or $2.33 per share. Revenue was reported as $1.39 billion. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on CRMT at
Yahoo
12-06-2025
- Automotive
- Yahoo
America's Car-Mart: Fiscal Q4 Earnings Snapshot
ROGERS, Ark. (AP) — ROGERS, Ark. (AP) — America's Car-Mart Inc. (CRMT) on Thursday reported profit of $10.6 million in its fiscal fourth quarter. On a per-share basis, the Rogers, Arkansas-based company said it had profit of $1.26. The auto retailer posted revenue of $370.2 million in the period. For the year, the company reported profit of $17.9 million, or $2.33 per share. Revenue was reported as $1.39 billion. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on CRMT at Sign in to access your portfolio
