WASHINGTON (Reuters) – The U.S. client watchdog on Tuesday proposed making everlasting an exemption that permits sure banks and credit score unions to estimate the worldwide remittance charges they cost customers in cases when it might be too costly for the corporations to supply actual figures.

The Client Monetary Safety Bureau (CFPB) additionally proposed elevating the transaction threshold at which corporations could also be totally exempted from the rule from 100 to 500 or fewer remittances yearly, lowering the burden on over 400 banks and nearly 250 credit score unions, the CFPB mentioned.

The proposal is topic to public session.


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