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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.