CUNA Preps CUs For Oct. 28 Remittance Rule Reckoning
Thursday, 17 October 2013 08:17
As the Oct. 28 effective date for new remittance transfer regulations approaches, the Credit Union National Association is reminding credit unions of how the coming regulatory changes could impact their daily business, and how they can prepare for the changes.

Under the final Consumer Financial Protection Bureau rule, remittance transfer providers are required to provide 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. 
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