Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA Seeks Contact By CUs Ceasing Remittance Services
WASHINGTON (10/25/13)--The Credit Union National Association encourages credit unions to contact the trade group immediately if they plan to stop offering international remittance services because of  compliance burdens imposed by a new Consumer Financial Protection Bureau rule that goes into effect Monday.
 
"If your credit union has stopped offering international remittance services because of concerns with the rule, CUNA would like to hear from you," encouraged CUNA Senior Vice President and Deputy General Counsel Mary Dunn Thursday.
 
She recommended such credit unions contact CUNA immediately at RegAdvocacy@cuna.coop.
 
Under CFPB rule, remittance transfer providers are required to give prepayment and receipt disclosures to the consumer-sender that include the exchange rate, certain fees and taxes associated with a transfer, and the amount of money that will be received on the other end of the transfer. Remittance transfer providers will also be required to investigate disputes and correct errors.
RSS print
News Now LiveWire
NCUA confirmed earlier indications that there would be no National Credit Union Share Insurance Fund premium for 2014.
15 hours ago
.@NJCUL supported prized-linked savings legislation introduced in New Jersey state Senate.
15 hours ago
#creditunions emphasize co-op principles during National Co-op Month #NewsNow http://t.co/zEb9UFot1N
21 hours ago
Servicemember's spouse drives away with Bank on More's SUV thanks to #missouri #creditunions http://t.co/WvTrKxh0sV
23 hours ago
From @FHFA this a.m.: U.S. house prices up 0.5% in Aug. on seasonally adjusted basis from previous month. More here: http://t.co/1yVDOPggeX
1 Day ago