Five Democratic Senators urge CFPB to revise remittance transfer rule
CFPB Monitor
OCTOBER 25, 2022
The Remittance Transfer Rule (“Remittance Rule”), Subpart B of Regulation E, 12 C.F.R. §§ 1005.30 Brian Schatz (D-Hawaii), Jack Reed (D-R.I.), to 1005.36, requires transfer providers to provide prepayment disclosures to consumers prior to paying for a remittance transfer. Senators Elizabeth Warren (D-Mass.),Dianne
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