CFPB delays changes to rule for international money transfers

The Consumer Financial Protection Bureau (CFPB) has announced that it is temporarily delaying its changes to its international remittance transfer rule. The amendments, which were proposed on December 31, were planned to go into effect on February 7 of this year. The CFPB has said that it will announce a new effective date later this year.

The changes made by the proposal are meant to protect consumers while helping remittance transfer providers with compliance. You can submit comments on the proposal on or before January 30.

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