Statement from Aventiv Technologies Regarding the CFPB Settlement

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Oct 19, 2021, 18:15 ET

DALLAS, Oct. 19, 2021 /PRNewswire/ -- Aventiv Technologies today released the following statement from its President and CEO Dave Abel related to a settlement with the Consumer Financial Protection Bureau (CFPB):

"JPay is pleased to have reached a settlement with the CFPB that corrects past practices related to electronic funds transfers and provides redress to impacted individuals. Led by our parent company, Aventiv Technologies, JPay cooperated fully with the CFPB in this matter, guided by our organization's transformation agenda that emphasizes working collaboratively with regulators, reforming certain past business practices, and making products and services more affordable and accessible. The transformation agenda is supported by a robust corporate compliance framework that will ensure that the issues raised by the CFPB are fully remediated. The leadership teams at both Aventiv and JPay have prioritized providing incarcerated individuals with higher quality service at lower cost, with an emphasis on preparing them for successful reentry and return home."

ABOUT AVENTIV TECHNOLOGIES
Headquartered in Dallas, Texas, Aventiv Technologies serves more than 3,450 public safety, law enforcement and corrections agencies and over 1,100,000 incarcerated individuals across North America, Aventiv is committed to serve and connect by providing emergency response, incident management, public information, investigation, biometric analysis, communication, information management, incarcerated self-service, and monitoring products and services in order to make our world a safer place to live. For more information, please visit www.Aventiv.com. Aventiv is a portfolio company of Platinum Equity. Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with a portfolio of approximately 40 operating companies that serve customers around the world.

SOURCE Aventiv Technologies