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Webinar: CFPB Examination Procedures for International Remittance Transfers (Archive Only)


Friday, February 7, 2014

2:00 - 3:30 pm CST


Speaker: Luann S. Kohlmann, AAP, NCP, WACHA


About the Program

On October 28, 2013, Dodd-Frank 1073 was implemented to protect consumers when sending funds out of the country. Dodd-Frank 1073 primarily focuses on three areas of consumer protection:


  1. Mandatory disclosures of the financial institution’s transfer fees, currency exchange rates, fees charged (or estimated to be charged), and the net amount to be received by the payee
  2. Error resolution procedures
  3. Refund and cancellation rights


The CFPB has now released an examination manual to assess the compliance risks associated with this process. Join us to learn how to comply with these important consumer protection laws and avoid potential losses for your credit union.

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