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.
Person-to-person payment services are gaining popularity. Before using them, minimize potential risks by reading these tips.
We recently published our Consumer Response Annual Report, which provides an overview of the complaints we received in 2016.
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.
Looking back, I wish I had had more unbiased sources of information so I could have made smarter choices.
To help, we developed the Newcomer’s Guides to Managing Money, an unbiased resource for recent immigrants. Take a look and see ways to pay bills, receive money, open a bank account, and compare financial products.
If you send money to other countries, you can now get more information about exchange rates and costs before you pay for the transfers. That’s because of a new federal rule that went into effect at the end of October. Here’s a closer look at the information you’ll receive before and after you send money, […]
Today, you have new rights if you send money to family or others outside the United States. These protections come from a new rule that applies to electronic money transfers sent by consumers in the United States to people or businesses in other countries. In general, the rule covers transfers sent by companies – such […]
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 […]
It’s pretty incredible that you can quickly send money to almost anywhere in the country or abroad. Many people do so on a daily basis and starting today you can submit a money transfer complaint if you have an issue such as: Money was not available when promised Wrong amount charged or received (Transfer amounts, […]