remittance services

• CFPB Doubles Remittance Compliance Time

  By Heather Anderson  |  May 8, 2013

  The Consumer Financial Protection Bureau released its final remittance rule April 28 and gave providers six months to comply, setting an Oct. 28 effective date. The bureau had originally proposed a 90-day compliance window following its release of the final rule.

• 

  Many Complications for Remittances

  December 5, 2012

  The large and growing need for affordable remittance transfer services represents an equally large business opportunity for credit unions. This is especially true for those U.S. cooperatives serving Hispanic members with family in Latin America.

• 

  CFSI Study Sees CU Opportunities in the Underserved

  By David Morrison  |  November 21, 2012

  A new report from the Center for Financial Services Innovation suggests that products and services marketed to unbanked and underbanked consumers could represent a huge and growing market for the nation’s credit unions.

• 

  Regulation Just One of Many Issues Complicating Remittance

  By Anna Pena  |  November 12, 2012

  Once the domain of Latin mom-and-pop shops, remittance services have in recent years become accessible to Hispanic and other consumers through their local credit unions.

• Mobile Remittances May Boost World’s CUs

  By Natasha Chilingerian  |  September 17, 2012

  A new partnership between the World Council of Credit Unions and Boom Financial, a Palo Alto, Calif.-based company that provides mobile banking and money transfer services to immigrant and unbanked families, could pump new life into credit unions in developing countries.

• CFPB’s Final Remittance Rule Boosts Exemption to 100 Annual Transactions

  By Heather Anderson  |  August 7, 2012

  NAFCU says impact will help some but that most credit unions will still face denying transaction no. 101 or eliminating remittance services altogether.

• 

  Guest Opinion: Dodd-Frank: Two Years and Counting

  July 22, 2012

  Four years ago, our nation was thrown into the deepest economic morass since the Great Depression. No question, the situation was dire. People lost their jobs and their homes. Banks and companies closed. Government officials scrambled to help bolster our fragile economy.

• Matz Named in CFPB Suit

  By Heather Anderson  |  July 2, 2012

  NCUA Chairman Debbie Matz was named as a defendant in a lawsuit that challenges the constitutionality of the Consumer Financial Protection Bureau.

• Matz Named as Defendant in CFPB Constitutionality Suit

  By Heather Anderson  |  June 26, 2012

  Plaintiffs challenge creation of CFPB and FSOC, Cordray's appointment.

• CFPB Reg Threatens to Kill CU Transfer Remittances

  By Heather Anderson  |  April 15, 2012

  The Consumer Financial Protection Bureau’s proposed remittance regulations could force credit unions to stop providing the service, said CUNA and NAFCU in letters submitted to CFPB Executive Secretary Monica Jackson.