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CFPB issues new circular on deceptive practices in connection with marketing remittance transfers | Ballard Spahr LLP

The CFPB issued a new circular advising remittance transfer providers that false advertising about the cost or speed of sending remittance transfers can be considered a violation of the...

Rohit-chopra , Servico-uniteller , Brian-schatzd-hawaii , Jack-reed , Ballard-spahr , Consumer-financial-protection-act , Senators-elizabeth-warren , Dianne-feinstein , Brian-schatz , Alex-padilla , Remittance-transfer-rule ,

Romance scams have robbed consumers of at least $87,000. How to avoid getting scammed.

Wallet Warnings is a service of the Shelby County Trustee's Office to help consumer avoid scams and keep their hard-earned money.

Chime-inc , Electronic-fund-transfer-act , Consumer-financial-protection-bureau , Consumer-financial-protection-act , Remittance-transfer-rule , Wallet-warnings , Better-business-bureau , Omance-scams , Nline-dating-sites , Larming-rate , Usiness-venture

CFPB Takes Another Decisive Action Against Nonbank Payment System | Shipkevich PLLC

The Consumer Financial Protection Bureau (“CFPB”) continues focus its forces on the payment processing space. In June 2023, we published an article foretelling the next regulatory...

United-states , Richard-cordray , Fintech-companies , Chime-inc , Consumer-financial-protection-bureau , Electronic-fund-transfer , Consent-order , Violations-uncovered , Remittance-transfer-rule , High-yield-savings-accounts , New-focus , Issue-spotlight

CFPB enters into consent order with remittance transfer provider | Ballard Spahr LLP

The Consumer Financial Protection Bureau announced that it has entered into a Consent Order with Chime Inc., a nonbank fintech company, to settle alleged violations of the Electronic...

United-states , Consumer-financial-protection-bureau , Ballard-spahr , Chime-inc , Electronic-fund-transfer-act , Consent-order , Remittance-transfer-rule , Consumer-financial-protection-act , Sendwave-app , Democratic-senators ,

CFPB Bites of the Month - January 2023 - May Old Compliance Acquaintances be Forgot | Hudson Cook, LLP

In this month's article, we share some of our top "bites" for the prior month covered during the January 18, 2023, webinar. Bite # 8: The CFPB Publishes Civil Penalty...

New-york , United-states , Electronic-fund-transfer , Us-court , Suea-national-auto-finance-company , District-court , Civil-penalty-inflation-adjustments-rule , Federal-register , Federal-civil-penalties-inflation-adjustment-act , Debt-collection-improvement-act , Inflation-adjustment-act

CFPB Orders International Remittance Company to Pay $700,000 Penalty | Hudson Cook, LLP

On December 22, 2022, the CFPB filed an administrative consent order against an International Remittance Company headquartered in Rochelle Park, New Jersey. The order alleges that from...

New-jersey , United-states , Rochelle-park , Electronic-fund-transfer , International-remittance-company , Electronic-fund-transfer-act , Remittance-transfer-rule , Consumer-financial-protection-act , Consumer-financial-protection , Remittance-transfer , Consent-order

CFPB Orders Servicio UniTeller to Refund Fees and Pay Penalty for Failing to Follow Remittance Rules

Today, the CFPB issued an order against Servicio UniTeller, an international remittance company, for multiple violations of the requirements governing electronic money transfers, including failing to refund customers after the company made money transfer errors.

District-of-columbia , United-states , New-jersey , Washington , Rochelle-park , Rohit-chopra , Servicio-uniteller , Grupo-financiero-banorte , Consumer-financial-protection-bureau , Electronic-fund-transfer , Electronic-fund-transfer-act , Remittance-transfer-rule

Democratic Senators Say CFPB Should Strengthen Remittance Transfer Rule | Troutman Pepper

Five Democratic Senators — Elizabeth Warren (MA), Dianne Feinstein (CA), Brian Schatz (HI), Jack Reed (RI), and Alex Padilla (CA) — recently petitioned the Consumer Financial Protection...

Elizabeth-warren , Consumer-financial-protection-bureau , Democratic-senators , Dianne-feinstein , Brian-schatz , Jack-reed , Alex-padilla , Remittance-transfer-rule ,

CFPB Bites of the Month - October Top 10: Ghosts, Goblins & the Spooky CFPB | Hudson Cook, LLP

In this month's Top 10 article, we share some of our top "bites" for the prior month covered during the October 19, 2022, webinar. So, what happened last month? Extra Bite: CFPB...

United-states , Texas , Vermont , Iowa , American , Rohit-chopra , Department-of-education , Public-service-loan-forgiveness , Electronic-fund-transfer-act , Consumer-bankers-association , Company-reversal-of-user , Us-chamber

Five Democratic Senators urge CFPB to revise remittance transfer rule | Ballard Spahr LLP

The Remittance Transfer Rule (“Remittance Rule”), Subpart B of Regulation E, 12 C.F.R. §§ 1005.30 to 1005.36, requires transfer providers to provide prepayment disclosures to consumers...

Rohit-chopra , Brian-schatzd-hawaii , Jack-reed , Elizabeth-warrend-mass , Ballard-spahr , Remittance-transfer-rule , Elizabeth-warren , Dianne-feinstein , Brian-schatz , Alex-padilla , Remittance-rule , Official-commentary