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Remittance Transfers

The Reg E Remittance Transfer Rules institute several new requirements for remittance transfers when consumers transfer money internationally. The requirements, as interpreted by the Consumer Financial Protection Bureau, generally require banks to disclose the exchange rate and all fees associated with a transfer. The rule also requires remittance transfer providers to investigate disputes and remedy errors.

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Date Title Source/Publication
05/02/2013 ICBA Supports Revisions to Remittance Rule NewsWatch Today
05/01/2013 CFPB Issues Revisions to Remittance Rule NewsWatch Today
05/01/2013 ICBA Supports Revisions to Remittance Rule News Release
04/24/2013 ICBA, Coalition Seek Reforms to Remittance-Reporting Proposal NewsWatch Today
04/22/2013 Proposed Remittance Transfer Reporting Industry Letter to Regulators
03/13/2013 Remittance Transfers Policy Resolution
02/01/2013 Proposed Revisions to Regulation E, Remittance Transfer Rules Letter to Regulators
10/17/2012 Joint Letter on the Implementation of Remittance Transfer Rules under Section 1073 of the Dodd- Frank Act Joint Letter to Regulators
10/17/2012 Request for Interim Final Rule to Correct Regulation E Requirements Related to Remittance Transfers Letter to Regulators
08/30/2012 A New World for Remittance Transfers NewsWatch Today
08/28/2012 ICBA Video Illustrates Remittance Transfers Rule Compliance Challenges (Part 2) Video
08/28/2012 ICBA Video Illustrates Remittance Transfers Rule Compliance Challenges (Part 3) Video
08/28/2012 ICBA Summary of the Consumer Financial Protection Bureau’s Final Rules Regarding Remittance Transfers Summary
08/28/2012 ICBA Video Illustrates Remittance Transfers Rule Compliance Challenges (Part 1) Video
08/08/2012 ICBA Statement on New Requirements on Remittance Transfers Press Release
08/07/2012 Consumer Financial Protection Bureau Final Regulation E (Electronic Fund Transfers) Remittance Transfers Safe Harbor and Preauthorized Transfers Rule CFPB Rulemaking
07/22/2012 Regulation E, Electronic Fund Transfers Letter to Regulators
04/09/2012 Industry Comments on Consumer Financial Protection Bureau Proposed Regulation E (Electronic Fund Transfers) Remittance Transfers Rule Industry Letter to Regulators
04/09/2012 ICBA Comments on Consumer Financial Protection Bureau Proposed Regulation E (Electronic Fund Transfers) Remittance Transfers Rule Comment Letter
01/20/2012 Consumer Financial Protection Bureau Final Regulation E (Electronic Fund Transfers) Remittance Transfers Rule and Proposed Safe Harbor and Preauthorized Transfers Rule CFPB Rulemaking
07/22/2011 ICBA Comments on Federal Reserve Proposed Regulation E (Electronic Fund Transfers) Remittance Transfers Rule Letter to Regulators
07/22/2011 Industry Comments on Federal Reserve Proposed Regulation E (Electronic Fund Transfers) Remittance Transfers Rule Industry Letter to Regulators
05/12/2011 Federal Reserve Proposed Regulation E (Electronic Fund Transfers) Remittance Transfers Rule Federal Reserve Rulemaking
ICBA Issues Statement on CFPB Update of Remittance Transfer Rule
CFPB Plans Remittance Rule Adjustments Addressing ICBA Concerns

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