Alert October 16, 2012

CFPB Releases International Fund Transfers Small Entity Compliance Guide

The CFPB released its Small Business Compliance Guide to complying with the new remittance transfer rule set to take effect on February 7, 2013 (see August 7, 2012 Alert). The CFPB is required by law to issue a small entity compliance guide to help small businesses comply with the new remittance transfer rules. The CFPB also held a webinar on October 16, 2012 to provide more information on the remittance transfer rule.