Payments News from Glenbrook Partners
Glenbrook   Book   Education   Views   Archives   Store   Advertise   About         SUBSCRIBE:

CFPB Proposes to Change Remittance Rule and Extends Its Effective Date

Cfpb logo 140x60pxThe Consumer Financial Protection Bureau announced today that it intends to propose certain limited adjustments to our rule on international money transfers, as well as a brief extension of the date the rule would become effective.

Some regulated entities identified issues that pose practical challenges in implementing the new law. To address these issues, next month we will propose a narrow set of changes to the remittance rule. We’ll work on a fast track to finalize changes to the rule. The proposed changes would improve implementation of the new law while keeping the important new protections for consumers intended by the Dodd-Frank Act.

Add your comment... (note that all comments are reviewed before they're published)

Feed You can follow this conversation by subscribing to the comment feed for this post.

If you have a TypeKey or TypePad account, please Sign In