Proposal Would Help Bureau Ensure Nonbanks are Implementing New Consumer Protections
WASHINGTON, D.C.—(ENEWSPF)—January 23, 2014. 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.
“The CFPB’s Remittance Rule…
