The Consumer Financial Protection Bureau (CFPB) announced in an October 28 press release that businesses and individuals in the United States will receive a series of new consumer protections that will apply when they send money abroad.
Additionally, any financial service that sends more than 100 international money transfers per year will fall under a new set of regulations.
The CFPB has also published a multi-lingual series of information guides.
To learn more about the new protections, read the CFPB’s full release here.
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