The Consumer Financial Protection Bureau (CFPB) has issued guidance to prevent disruption for consumers who rely on remittance transfers.
To minimize the impact of the pandemic on the remittances market, the CFPB issued a policy statement that will enable insured institutions to continue to focus on the immediate needs of their customers by taking a flexible approach to the bureau’s supervision and enforcement of remittance transfers.
Read on for details of the bureau’s statement.
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