On August 8, the Consumer Financial Protection Bureau (CFPB or Bureau) published a series of proposed rules aimed at redefining what constitutes a “larger participant” in several key financial markets. Under § 1024 of the...more
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
According to the World Bank and the Bureau, of the $613.5 billion worldwide dollar amount of remittance transfers in 2017, $148.5 billion was sent from the US in over 325 million remittance transfers, and $6.6 billion was...more
Last week, the Bureau of Consumer Financial Protection (Bureau) issued a request for information on its remittance rules, which are located in the Electronic Fund Transfers Act (EFTA). The request primarily seeks information...more