Money Transfers (Remittances)

 

Remittance Transfers (International
Wire Transfers)
​This rule protects consumers who send money electronically to foreign countries in amounts exceeding $15.  Specifically, this rule requires credit unions to issue additional disclosures that help consumers better understand the service being provided such as the exchange rate, and any associated fees. The rule applies to all financial institutions that provide more than 100 money transfers to foreign countries each year.
 
Effective: October 28, 2013.
 
For more information, view the CFPB Rule Summary or “ask CFPB” post from the Consumer Financial Protection Bureau.


 
 

Frauds and Scams 

Frauds and Scams
 
 

More about Remittance Transfers

More about Remittance Transfers
 
 

Consumer Protection Update

Consumer Protection Update
 
 

 

Related Resources:

• Electronic Banking – Federal Trade Commission
• How to Keep Your Personal Infomation Secure - Federal Trade Commission

(Updated 10/21/13)