CFPB Agrees To Temporarily Delay Remittance Rule

The Consumer Financial Protection Bureau has agreed to temporarily delay the implementation of its international remittance transfer rule. 

Instead of taking effect on February 7, 2013, the CFPB will announce a new effective date later this year, they stated in a blog post. The announcement comes just a few days after the ABA and other trade groups urged the CFPB to enact a temporarily delay.

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