Updated on August 8, 2013: The remittance rule goes into effect October 28, 2013. Visit the remittance rule page for additional information regarding the rule including the most recent updates. The live session discussed below is now out of date. Please see the remittance rule page for an updated compliance video.
Updated on November 27, 2012 We issued a bulletin about changes to the rule we intend to propose in December 2012.
We held a live session on October 16th to talk about the new requirements for remittance transfer providers.
The rule to implement the consumer protections created by the Dodd-Frank Act for certain electronic transfers of funds to other countries – the remittance rule – will go into effect on February 7, 2013.
You can read CFPB Director Richard Cordray’s full remarks and see the remittance rule presentation slides from the event.
If you missed the event, you can watch below: