The CFPB has proposed several amendments to its remittance rule.  Comments on the proposal must be filed no later than January 21, 2020.

The proposed amendments are:

  • An increase in the rule’s safe harbor threshold that currently removes from the rule’s coverage an entity that provided 100 or fewer remittance transfers in the previous calendar

The CFPB has published a notice and request for comments seeking information to inform its consideration of possible changes to its rule on remittance transfers.  Comments are due by June 28, 2019.

The RFI sets forth a series of questions related to the following topics:

  • Expiration of the temporary exception. The EFTA provides a temporary

In its Winter 2016 Supervisory Highlights, which covers supervision work generally completed between September and December 2015, the CFPB highlights violations found by CFPB examiners involving consumer reporting, debt collection, mortgage origination, remittances, and student loan servicing.

The report states that recent non-public supervisory actions have resulted in restitution of approximately $14.3 million to