Providing consumers with clearer information about the types of questions that may be better handled by their remittance company before contacting regulators is the aim of a proposed rule issued Friday by the federal consumer […]
Remittance transfer providers that issue false advertising about the cost or speed of sending a remittance transfer can violate federal law, the federal consumer financial protection agency reminded in a circular issued Wednesday. The Consumer […]
Cheating users on international money transfers is alleged in a complaint issued Tuesday against a widely used mobile app by the federal consumer financial protection agency. In a release, the Consumer Financial Protection Bureau (CFPB) […]
A remittance provider has been ordered to refund fees and pay a penalty after allegedly failing to provide refunds on thousands of transactions, the consumer financial protection agency said Thursday. The order against Servicio UniTeller, […]
A penalty of nearly $1 million has been assessed against a New Jersey money transferring firm by the federal consumer financial protection agency for the firm’s failure to provide accurate fee, exchange rate and other […]
Charging that the company ignored warnings to stop – while stranding customers waiting for their money – the federal consumer financial protection agency and New York State Thursday announced they had jointly sued one of […]
Supplemental exam procedures on remittance transfers were issued Monday by the regulator of national banks, permanently allowing smaller institutions (those under $10 billion) to estimate certain fees and exchange rates when making disclosures to their […]
For about a six-month period, supervisory violations won’t be cited, and enforcement actions won’t be initiated, against certain remittance transfer providers in connection with the expiration of temporary exceptions for cost disclosures, the federal consumer […]
May will be a big month for two rules – through proposed amendments to “qualified mortgage” (QM) regulations and finalized remittances regulations – from the federal consumer financial protection agency, its director said Tuesday. Specifically: […]
Some financial institutions could estimate certain remittance fee and exchange rate information – instead of disclosing exact amounts in certain circumstances – under a proposal issued by the federal consumer financial protection agency Tuesday. The […]
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