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CBA Statement on CFPB Proposed Revisions to the International Money Transfer Rule
Washington, D.C. (April 15, 2014) – Richard Hunt, president and CEO of the Consumer Bankers Association, issued the following statement in response to the Consumer Financial Protection Bureau’s (CFPB) proposed revisions to its international money transfer rule.
“We appreciate the CFPB’s recognition of the complexity of disclosures associated with international money transfers. This action will allow consumers and their families, who rely on these transfers, uninterrupted access.”
The Consumer Bankers Association (CBA) is the trade association for today's leaders in retail banking - banking services geared toward consumers and small businesses. The nation's largest financial institutions, as well as many regional banks, are CBA corporate members, collectively holding two-thirds of the industry's total assets. CBA’s mission is to preserve and promote the retail banking industry as it strives to fulfill the financial needs of the American consumer and small business.