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Disclosure Requirements › Remittance Transfer Rule › Financial Services Industry

Ballard Spahr LLP

CFPB orders remittance transfer provider to pay almost $2.5 million for alleged illegal activities

Ballard Spahr LLP on

On January 30, 2025, the CFPB ordered Wise, an international remittance company, to pay almost $2.5 million in connection with allegations of illegal activities, including advertising inaccurate fees and failing to properly...more

Latham & Watkins LLP

CFPB Proposes to Amend the Remittance Rule

Latham & Watkins LLP on

Remittance service providers would need to update their disclosure statements under a narrowly tailored proposed amendment which aims to resolve issues more efficiently and save consumers time....more

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