Links in “Regulation E (EFTA)/Remittance Transfers”

With new rules governing international remittances going into effect yesterday, here's a look at who the players are in international remittances in the credit union world. [10/29]

CFPB seeks to promote three primary requirements of remittance rules in multiple languages that went into play on 10/28. Big elements being promoted include general info on rules, fees and charges, right to cancel and error resolution. [10/29]

The goal is transparency, the obstacle is feasibility. Notwithstanding, the new rules go into affect 10/28/2013 and require disclosures, proper error resolution procedures and right of rescission on most remittances. Oh, and UDAAP issues are emphasized so anticipate analytics on FI remittance activities. [10/23]

New CFPB rules designed to protect consumers take effect 10/28, but an unintended consequence could be that they drive remittance providers to stop serving countries emerging from war or other crises, a time when funds are needed most. [10/9]

CFPB issues warning and guidance on payroll card usage and consumer protections. EFTA impact presented for FI handling. [9/13]

Banks in Chicago region report that examiners have been spending inordinate amount of time on Reg. E, resulting in civil money penalties for a variety of activities considered "unfair and deceptive." [9/5]

Finalized EFTA rules on Remittance Transfers effective October 28, 2013. [8/15]

Compliance officer surmises that if the latest remittance rules were a bank advertisement, the CFPB would have to cite it as a UDAAP violation. [8/13]

Scrambling to meet the Oct. 28 effective date of the remittance transfer final rule? Here are some resources from the CFPB that could help. [8/12]

Breaking down the procedures for what to do when a person notifies your institution of an error in a remittance transfer. [8/8]