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Thursday, October 10, 2013

Remittance Rule May Pose Problematic for Post-Conflict Countries

Boston University’s Pardee Center Task Force released a report: Remittance Flows to Post-Conflict States. Chapter 2 of the report discussed how Dodd-Frank has changed the regulatory framework for remittance transfers from the U.S. to a foreign countries, including detailed disclosure requirements and error resolution procedures, and establishing significant civil liability for violation of these requirements.

The chapter concludes that “the proposed regulatory treatment may have the unintended consequence of impeding the use of regulated remittance transfer providers for sending funds to these [post-conflict] countries.”

Read the full report.

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