Browsing: Remittances

Compliance

The Consumer Financial Protection Bureau has issued a request for information seeking input on potential changes to its remittance rule, which established requirements for companies sending international money transfers on behalf of consumers.

Compliance

Imposing a 5 percent tax on cross-border remittances to fund border barriers — as envisioned in H.R. 85, the Fund and Complete the Border Wall Act — could have adverse consequences for law enforcement and consumers, a coalition of trade groups including the American Bankers Association said today.

Compliance

As part of the Consumer Financial Protection Bureau’s ongoing feedback initiative, ABA and its transaction banking subsidiary BAFT, joined by the Clearing House and the Consumer Bankers Association, urged the CFPB to make several much-needed rule changes to its remittance rule.