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Category: Press release |
Published

CFPB Proposes Rule to Oversee Larger Nonbank International Money Transfer Providers

WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) proposed a rule that would allow it to supervise certain nonbank international money transfer providers for the first time. The proposed rule would bring new oversight to larger nonbank international money transfer providers, to make sure they are adhering to the CFPB’s new protections for consumers sending money abroad.

Category: Testimony |
Published

Written Testimony of Director Cordray Before the Senate Committee on Banking, Housing and Urban Affairs

Chairman Johnson, Ranking Member Crapo, and Members of the Committee, thank you for inviting me to testify today about the fourth Semi-Annual Report of the Consumer Financial Protection Bureau. Since we opened our doors just over two years ago, the Bureau has been focused on making consumer financial markets work better for the American people, and helping them improve their financial lives.

Category: Press release |
Published

CFPB Launches Education Campaign About New International Money Transfer Protections

Multilingual Multimedia Campaign Focuses on Transparency and New Protections WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) is launching a nationwide multimedia campaign to inform consumers who send money internationally about new protections that go into effect today. The protections are contained in a rule that was finalized earlier this year. “Knowing how the […]

Category: Press release |
Published

El CFPB Lanza Campaña Educativa Sobre Nuevas Medidas de Protección para Transferencias Internacionales de Dinero

La campaña se centra en la transparencia y las nuevas medidas de protección WASHINGTON, D.C.— La Oficina para la Protección Financiera del Consumidor (CFPB, por sus siglas en inglés) está lanzando una campaña multimedia a nivel nacional para informar a los consumidores que envían dinero al exterior sobre las nuevas medidas de protección que entran […]

Category: Press release |
Published

CFPB Proposes Revisions to Rule Protecting Consumers Sending Money Internationally

Today’s proposal builds on a final rule on international money transfers that was published by the Bureau on February 7, 2012, and later supplemented on August 20, 2012. The final rule creates a comprehensive consumer protection regime for remittance transfers sent by consumers in the United States to individuals and businesses in foreign countries.

Category: Press release |
Published

CFPB Releases Report On Issues Facing Users of International Money Transfers

A report released today by the Consumer Financial Protection Bureau (CFPB) recommends principles for maximizing consumers’ ability to receive and use exchange rate information when making remittance transfers, and examines the incentives and challenges related to using remittance data in credit scores.