Links in “Regulation E (EFTA)/Remittance Transfers”
- Proposed Revisions to International Money Transfer Rule
International money transfer rule proposed by the CFPB would extend temporary exception of estimating third-party fees and exchange rates when providing remittance transfers to account holders for another 5 years (2020). [4/16]
- Reg. E: Can a CU Require a Member to Obtain a Police Report for Fraudulent Activity?
No. The credit union can request a police report, but cannot require it. That was one of "5 great points" from NAFCU's recent compliance school. Read the other four here. [3/28]
- Review of CFPB Complaint Database Suggests Remittance Transfer Rule Changes Unlikely
Industry observer foresees no material changes to the CFPB's remittance transfer rule before 2018 based on a review of the bureau's consumer complaint database, which indicates that 74% of the complaints were "closed with explanation." [1/27]
- CFPB Reaches Beyond Banks on Remittance Rules
CFPB seeks to supervise nonbank international money transfer providers to make sure they are adhering to protections for consumers sending money abroad. [1/24]
- FinCEN and Fed’s Fund Transfer Rule Goes Final
Regulatory definitions for "funds transfer" and "transmittal of funds" under BSA finalize. Keeps information on international funds transfers and remittances under BSA purview by carving out former exemption under EFTA. Impact should be minimal. [12/4]
- Texas CU Drops International Remittances
Texas Trust CU announces its decision to drop international wire transfers due to regulatory changes. [11/19]
- CFPB Examination Procedures for Remittance Transfers
The final rule went into effect Oct. 28. Are you up to speed? [11/12]
- NCUA Offers Videos to Explain Mortgage, Remittance Rules
NCUA has posted a three-part video series on its consumer website www.mycreditunion.gov that explains the requirements of the new mortgage and remittance rules. The videos present NCUAâs plan for implementation of the new rules. [11/6]
- NCUA Unveils New Video Education Series
Video series explains key changes in new rules impacting international remittances and mortgage lending. [11/6]
- United Bank Limited Ordered to Fix Its AML Program
Pakistani-based United Bank Limited's New York branch has entered an agreement with federal government to strengthen oversight of international remittances and bolster compliance with anti-money laundering regs. [11/4]
