One year after being accused of having a lax money laundering compliance program Wex Corp. (WEX), a financial services firm, the Federal Deposit Insurance Corporation (FDIC) says it caught the company engaging in deceptive banking practices.

In September 2023— fifteen months after Wex agreed to fix its anti-money laundering practices— the company revealed it had been issued a second FDIC consent order. Wex acknowledged issues with its compliance management program in its latest quarterly filing, but provided little other detail.

The consent order, posted on the FDIC’s website, reveals Wex engaged in unfair and deceptive banking practices, specifically:

“...by charging certain, higher fees than the Bank’s disclosures indicated the Bank would charge…”

The order, in which Wex does not admit or deny guilt, also says the bank violated other laws and regulations.

The back-to-back consent orders Wex entered into follows a 2015 settlement in which the bank and another party paid $31 million to settle allegations they bilked college students out of millions of dollars in debit card fees.