CFPB proposes to raise remittance threshold to 500 transfers

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The CFPB issued a proposed remittance rule Tuesday increasing the “normal course of business” threshold to 500 transfers per year. CUNA has asked for it to be raised to at least 1,000 but considers the proposal a positive step forward.

https://news.cuna.org/articles/116994-cfpb-proposes-to-raise-remittance-threshold-to-500-transfers