Identifying and addressing the financial needs of immigrants
The CFPB is working to identify and address the financial needs of immigrant consumers.
Blog
You have rights and protections when you send money abroad
When you send money overseas, remittance providers have to comply with rules about disclosing costs and fees, taking care of cancellations and refunds, resolving errors, and more.
Safely sending money to loved ones in conflict areas
People in the United States are trying to connect with family and friends in Ukraine, including finding ways to send money directly. Here are resources to safely send money overseas.
Safely sending money to loved ones in the wake of Haiti earthquake
Following the recent earthquake, people in the United States are trying to connect with family and friends in Haiti, including finding ways to send money directly. Here are resources to safely send money overseas, as well as tips to help loved ones recover and rebuild.
Spring 2020 Rulemaking Agenda
The semiannual update of our rulemaking agenda.
Fall 2019 rulemaking agenda
The semiannual update of our rulemaking agenda.
Spring 2019 rulemaking agenda
The semiannual update of our rulemaking agenda.
Bureau releases its assessment report of the Remittance Rule
The Bureau of Consumer Financial Protection released the findings of its assessment of the Remittance Rule, which provides protections to international money transfers. The report describes the Rule, the market, and the Bureau’s findings on the Rule’s effectiveness in meeting factors outlined in the Dodd-Frank Act.
Fall 2018 rulemaking agenda
The semiannual update of our rulemaking agenda
Spring 2017 rulemaking agenda
The semiannual update of our rulemaking agenda.
We are seeking comment on our plan for assessing the mortgage servicing rule
Your feedback and comments will help up improve our assessment.
We are seeking comment on our plan for assessing the remittance rule
We have released a plan to assess the effectiveness of the remittance rule and are asking the public for comments and information that would help the assessment.
Updates to remittance transfer rule resources and a correction to the rule
We strive to make financial markets work for both consumers and the entities we regulate. Critical to that goal is making sure that businesses – both small and large – have what they need to understand and comply with our new regulations, which are designed both to help consumers and make a fair playing field […]
Temporarily delaying the implementation of our international remittance transfer rule
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. In November, we announced that we would be proposing to make some limited amendments to our new international remittance transfer rule. We also announced that […]
Proposed changes to the remittance rule and an extension of rule’s effective date
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. Today we issued a bulletin explaining that we intend to propose certain limited adjustments to our rule on international money transfers, as well as a […]
Helping small businesses understand and comply with the new remittance rule
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 compliance guide announced on this blog post is now out of date. Please see the remittance rule page for the latest version. Update November […]
Remittance Rule Session
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, […]
Working to help industry understand and comply with the new remittance rule: Countries list and webinar
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 rule to implement the consumer protections created by the Dodd-Frank Act for certain electronic transfers of funds to other countries – the remittance rule […]
Remittance transfer rule: A personal perspective
As a child of South Asian immigrants, I recall my parents frequently sending money back to our family and friends in India. They would use a service to send money but they never fully understood the process, were charged numerous, unexplained fees, and felt powerless if any errors were made. Unfortunately, other immigrant families and other consumers who must send remittance transfers have had similar experiences, which is why advocates have been calling for greater protections around these transfers of money, or remittance transfers.
Making a difference in the lives of immigrants and others who send money abroad
Over my years of public service, I’ve met a lot of hard-working people who regularly send money transfers, or remittances, to family members and others abroad. Remittances from the U.S. to other parts of the world total in the tens of billions of dollars each year. Remittance senders are a diverse group from every income […]