The Impact Of CFPB Rule On Remittance Transfers

Law360, New York (February 02, 2012, 1:21 PM ET) -- In the Consumer Financial Protection Bureau’s first official final rulemaking, announced Jan. 20, 2012,[1] the agency amended Regulation E[2] to define standards and provide initial guidance in implementing Section 1037 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.[3]

Simultaneously, the agency issued a concurrent proposal soliciting comment on the application of the final rule to certain transactions and remittance transfer providers.[4] The final rule becomes effective Jan. 20, 2013, and the CFPB expects to address the issues raised in the proposed rule prior to...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers