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Money Transmission

CFPB Rule Defines "Larger Participants" In International Money Transfer Market

September 29, 2014 Posted by Lender Law

On September 23, the CFPB issued its final rule amending the regulation defining larger participants of certain consumer financial product and service markets specifically to add a definition for larger participants in the market for international money transfers. […]

Money Remittance Improvement Act Eases Regulatory Requirements for MSBs

August 11, 2014 Posted by Lender Law and Ellen Snow

On August 1, Congress passed the Money Remittances Improvement Act of 2014 (signed by President Obama on August 8, 2014), which reduces regulatory hurdles and duplication between state and federal regulation of money services businesses. Specifically, […]