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Category: Speech |
Published

Director Chopra’s Prepared Remarks on the Lawsuit Against MoneyGram

Millions of individuals from around the world sacrifice proximity to their loved ones to seek a better life and financial stability in our country. But they know that on the other side, when their money transfers are received, they are supporting elderly parents, siblings, spouses, and sometimes their own young children. Each year, American families send more than $100 billion abroad using international money transfers, also known as remittances.

Category: Press release |
Published

El CFPB y la fiscal general de Nueva York demandan a MoneyGram, infractor reincidente, por dejar varadas a familias.

La Oficina de Protección Financiera del Consumidor (CFPB, por sus siglas en inglés) y la Fiscal General de Nueva York, Letitia James, anunciaron hoy que presentarán una demanda contra MoneyGram International, Inc. y MoneyGram Payment Systems, Inc. (MoneyGram), uno de los mayores proveedores de remesas en los EE. UU., por violar sistemática y repetidamente varias leyes de protección financiera del consumidor y dejar a familias varadas.

Category: Press release |
Published

CFPB and NY Attorney General Sue Repeat Offender MoneyGram For Leaving Families High and Dry

The Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James today announced they are filing a lawsuit against MoneyGram International, Inc. and MoneyGram Payment Systems, Inc. (MoneyGram)—one of the largest remittance providers in the U.S.—for systemically and repeatedly violating various consumer financial protection laws and leaving families high and dry.

Category: Press release |
Published

消費者金融保護局和紐約州檢察長起訴 讓家庭處於無助境地的慣犯速匯金

消費者金融保護局(CFPB)和紐約州檢察長Letitia James今天宣佈,他們將對美國最大匯款服務公司之一MoneyGram International, Inc.和MoneyGram Payment Systems, Inc.(簡稱「速匯金」(MoneyGram))提起訴訟,因爲他們系統性地、反复地違反各種消費者金融保護法,讓家庭處於無助境地。該訴訟特別指控該公司未能及時向國外收款人匯款,從而導致客戶等待匯款。

Category: Press release |
Published

CFPB Monthly Complaint Snapshot Examines Money Transfer Complaints

Report Also Includes In-Depth Look at Consumer Complaints from Georgia WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released its latest monthly consumer complaint snapshot, highlighting consumer complaints about money transfers. The report shows that consumers’ complaints about money transfers center around trouble safely and efficiently sending money, and complaints about being victims […]

Category: Press release |
Published

CFPB Outlines Guiding Principles for Faster Payment Networks

CFPB Wants to Ensure Consumer Protections Are Built Into New Payment Systems From Outset WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) outlined guiding principles for protecting consumers as the private sector develops new faster payment systems. These new systems are aimed at reducing “pocket-to-pocket” payment times between consumers and businesses or other […]

Category: Press release |
Published

CFPB Finalizes Rule to Oversee Larger Nonbank International Money Transfer Providers

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule that allows it to supervise certain nonbank international money transfer providers for the first time. The rule, first proposed in January, brings new oversight to larger nonbank international money transfer providers. The rule will help the Bureau to ensure that these providers are adhering to the CFPB’s existing protections for consumers sending money abroad.

Category: Press release |
Published

CFPB Finalizes Revisions to Rule Protecting Consumers Sending Money Internationally

Revisions Will Help Facilitate Compliance With New Consumer Protections WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today finalized revisions to the remittance rule that it had proposed in April of this year. The revisions are intended to preserve the rule’s new consumer protections while providing federally insured institutions, such as banks and credit […]

Category: Press release |
Published

CFPB Proposes Revision to Rule Protecting Consumers Sending Money Internationally

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today proposed revisions to its international money transfer rule. The revisions are intended to preserve the rule’s new consumer protections while providing federally insured institutions, such as banks and credit unions, with additional time to provide exact disclosures in certain cases. “It is critical that we […]

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

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 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

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.