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Industry groups comment on proposed remittance rule amendments
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Banking, Consumer Protection
Monday, January 21, 2013
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As expected, community institutions supported the Consumer Financial Protection Bureau’s plan to delay implementation of the agency’s international remittance transfer rule. The rule, which creates certain protections for consumers who transfer money internationally, was slated to take effect on Feb. 7. However, the bureau proposed a set of rule revisions in December 2012. Read on to learn what community institutions had to say about the CFPB’s plans.
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