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 […]
Federal financial institution regulators were busy organizations last week, as they worked to clear their outboxes for the end of the summer in preparation for the oncoming fall season of meetings, congressional testimony, regulatory actions […]
An assessment report to Congress sent in October on the Consumer Financial Protection Bureau (CFPB) remittance rule has been revised and reposted to the bureau’s website, the agency said Wednesday, to correct an understatement of […]
A report to Congress issued Friday on the effectiveness of the consumer financial protection bureau’s remittance rule shows that while money services businesses (MSBs) conduct the lion’s share of consumer remittances – 95.6% of them […]
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