International Remittance Transfers

News & Analysis as of

Consumer Financial Protection Bureau Releases Final Rule on International Remittance Transfers

On April 30, the Consumer Financial Protection Bureau (CFPB) issued its final rule amending subpart B of Regulation E, which implements the Electronic Fund Transfer Act, and the official interpretation to the regulation. This...more

Corporate and Financial Weekly Digest - May 10, 2013

In this issue: - SEC Roundtable Discusses Current Securities Law Topics at 33rd Annual Ray Garrett Jr. Corporate and Securities Law Institute - SEC Reopening Comment Periods for Certain Rulemaking Releases and...more

CFPB Modifies Foreign Remittance Rules And Sets New Effective Date

The Consumer Financial Protection Bureau (“CFPB”) has revised its previously issued rules on foreign remittance transfers to ease some of the disclosure concerns raised by financial institutions. The revised rules, which are...more

CFPB delays remittance transfer rule effective date

The CFPB has issued a final rule delaying the effective date of the remittance transfer rule pending finalization of its December 2012 proposal to make changes in three areas....more

OFAC Issues Advisory On Efforts To Evade Iran Sanctions

On January 10, the Office of Foreign Assets Control (OFAC) issued an advisory to highlight practices being used to evade sanctions on Iran, including the use of third-country exchange houses or trading companies that are...more

CFPB Proposed Amendment to Rule on Remittance Transfers

On December 21, 2012, the CFPB issue a proposed amendment to subpart B of Regulation E under the Electronic Fund Transfer Act regarding remittance transfers....more

CFPB Proposes Revisions to Remittance Rule

The Consumer Financial Protection Bureau (CFPB or Bureau) on December 21 issued proposed revisions to a rule that creates certain protections for consumers who transfer money internationally. The proposed revisions, according...more

UK Tax Law Changes May Affect Fund Industry

Recently proposed changes in UK law could affect private investment funds that operate or have partners, employees or investments in the UK. Many of the proposed changes are included in the draft Finance Bill 2013, which was...more

House Committee on Oversight and Reform: CFPB a Threat to Credit Access

On December 14, 2012, the House of Representatives Committee on Oversight and Government Reform, Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs issued a scathing staff report entitled:...more

Bureau Proposes Further Revisions to Remittance Transfer Rules

On December 31, 2012, the Consumer Financial Protection Bureau (“Bureau”) published in the Federal Register revisions (“Proposal”) to rules on international remittance transfers that the agency published in February 2012 and...more

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