CFPB finalizes remittance rule raising threshold to 500

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The Consumer Financial Protection Bureau (CFPB) issued its final rule on remittances Monday, which comes after strong CUNA engagement with the CFPB to finalize the rule. The rule raises the “normal course of business threshold” to 500 remittance transfers per year, up from the current 100.

https://news.cuna.org/articles/117785-cfpb-finalizes-remittance-rule-raising-threshold-to-500