Foreign Remittance Transfers 101 - 2016
Presented by
John Burnett
Recorded on October 25, 2016
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2.0 hours
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ICB Credit: 2.5 CRCM
The Foreign Remittance Transfers rule has made significant changes to benefit consumers who rely upon funds transfers to individuals, businesses and financial institutions outside the U.S. to make purchases or send money to friends or family “back home.” There are shopping disclosures and disclosures to be made at the time a transfer is paid for. Error-resolution rules that protect consumers when things go wrong are both complex and heavily biased toward protecting the consumer (but not completely!) Even the “safe harbor” rule, which allows some institutions to avoid having to comply, can be confusing.
The 2014 amendments to the Remittance Transfer Rules took some of the “sting” out of compliance. We will review those changes so that you can make sure your institution has taken advantage of the improved flexibility they afford.
This presentation is designed to provide a basic working knowledge of the requirements of the Remittance Transfers rule found in subpart B of CFPB Regulation E. Financial institution employees with a need for the basics and those who want to refresh their understanding of the rule will find value in the program.
We’ll cover these and other topics during the webinar –
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Who should attend:
John Burnett
Foreign Remittance Transfers 101
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