Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Monday, May 6, 2013

ABA Staff Analysis on CFPB’s Remittance Rule

ABA has posted a staff analysis of the Consumer International Wire Transfers Final Remittances Rule issued by the CFPB on April 30.

The CFPB recently modified the final remittance rule, incorporating several changes that ABA and other trade groups had requested. The modifications eliminate the requirement to disclose third-party fees and foreign taxes and cease holding institutions liable for a sender’s mistake when the sender provides an incorrect account number or incorrect bank identifier.

The new remittance rule will be effective October 28, 2013.

Read the ABA Staff Analysis.


Indicates ABA members-only material.
Not an ABA member?
Learn about the benefits of membership and ways to join here.

No comments:

Post a Comment

Please read our comment policy before making a comment.