On January 20, 2012, the CFPB adopted a final rule amending Regulation E (Electronic Fund Transfers) to include consumer protections for various types of remittance transfers. The rule was originally proposed by the Federal Reserve Board last May; however, authority to finalize the rule-making transferred to the CFPB on July 21, 2011 ****More At; CFPB Issues Final Rule on Remittance Transfers; Proposes Changes As Well:
Written by Bernadette Clair, Regulatory Compliance Counsel
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