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Remittance rule

CUNA: Compliance Relief Needed on CFPB Remittance Rule


The Credit Union National Association (CUNA) sent another comment letter  to the Consumer Financial Protection Bureau (CFPB) asking the agency to provide a broader international remittance transfer exemption level and additional compliance relief for credit unions.

Posted By Sharon Bahr read more

CFPB Delays Effective Date of Remittance Transfer Rule


On November 27, the Consumer Financial Protection Bureau (CFPB) announced that it intends to make changes to the final rule governing international remittance transfers (Regulation E, Subpart B) and delay the effective date, which was originally scheduled for February 7, 2013. This comes after numerous credit unions, state leagues and national associations voiced their concerns over the rule. 

The proposed changes are:

Posted By Halley Hayden read more
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