Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
CFPB Now Accepting Money Transfer Complaints
WASHINGTON (4/5/13)--Consumers now can take their complaints about a bad money transfer experience to the Consumer Financial Protection Bureau.

In a blog post announcing that the bureau now takes money transfer complaints, the CFPB noted that it is "pretty incredible" that a person can quickly send money to almost anywhere in the United States or abroad, and that many do so on a daily basis.

The CFPB told consumers they can submit a complaint for such issues as:

  • Money was not available when promised;
  • Wrong amount charged or received (Transfer amounts, fees, exchange rates, taxes, etc.);
  • Incorrect/missing disclosures or info;
  • Other transaction issues (Unauthorized transaction, cancellation, refund, etc.);
  • Other service issues (Advertising or marketing, pricing, privacy, etc.); and/or
  • Fraud or scams.
"Reading your complaints about money transfers will complement work we have already started in this area, including issuing a rule on international money transfers, which will include a new set of protections for consumers who send money internationally," the CFPB said.

The CFPB in January announced it was delaying the effective date of its international remittance transfer rule that was set to go into effect Feb. 7. A new effective date will be set later in the year.

Use the resource link to read more about the CFPB money transfer rule.
Other Resources

CFPB Remittance Rule
RSS





print
News Now LiveWire
Watching #SuperBowlXLIX this Sunday? Look for regional #creditunion #commercials @CltMetroCU @BECU @golden1cu #Seahawks #Patriots
17 hours ago
Philadelphia's American Bakery Workers FCU liquidated by @TheNCUA; @trumarkonline assumes shares
18 hours ago
More branch shutterings by @Citi: 4th-largest bank to close 10% of #Chicago area branches HT @CrainsChicago http://t.co/2vAvgucLY5
19 hours ago
56% struggle with subprime credit scores says @cfed survey HT @washingtonpost http://t.co/RHmMvuhNtw
19 hours ago
How to use social media for crisis communications Feb. 10 webinar from @SBAgov, @AgilityRecovery http://t.co/d16t8RHr7n
20 hours ago