CFPB remittance relief falls short

by. Nicholas Ballasy

The CFPB could extend an exception to its remittance rule, but it won’t bring back credit unions that already abandoned the international wire transfer business, according to trade associations.

“CUNA is generally supportive of the CFPB’s proposal to extend the temporary exception that permits certain estimated disclosures under the agency’s international remittance transfer rule,” said Mary Dunn, senior vice president and deputy general counsel.

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