12 CFR 1005.30 - Remittance transfer definitions

Cite as12 CFR 1005.30
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30 practice notes
  • Telemarketing Sales Rule
    • United States
    • Federal Register December 14, 2015
    • December 14, 2015
    ...outside of the U.S.) are governed by the Remittance Rule, which provides disclosures to customers of money transfer providers. 12 CFR 1005.30(e) (definition of ``remittance transfer'' includes transfers ``sent by a remittance transfer provider'' to a ``designated recipient'' outside of the ......
  • Arbitration Agreements
    • United States
    • Federal Register May 24, 2016
    • May 24, 2016
    ...\469\ See 15 U.S.C. 1693(b); 12 CFR 1005.2(b) (defining ``account'') and 12 CFR 1005.30(e) (defining ``remittance The Bureau notes that it has separately proposed a rule to extend the definition of ``account'' to include ``prepaid accounts.'' \470\ As noted above, where this proposed rule r......
  • Prepaid Accounts Under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z)
    • United States
    • Federal Register December 23, 2014
    • December 23, 2014
    ...regulatory regimes that provide consumer disclosures, error resolution and protection from unauthorized transfers. See generally 12 CFR part 1005. The Bureau is proposing to establish a new definition of ``prepaid account'' within Regulation E and adopt comprehensive consumer protection rul......
  • Defining Larger Participants of the International Money Transfer Market
    • United States
    • Federal Register January 31, 2014
    • January 31, 2014
    ...\21\ The term ``international money transfer'' is very similar to the term ``remittance transfer'' as defined in the Remittance Rule, 12 CFR 1005.30(e). However, the definitions differ in some substantive respects as specified below, including, for example, that transfers of $15 or less can......
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2 cases
  • Lower E. Side People's Fed. Credit Union v. Trump, 17 Civ. 9536 (PGG)
    • United States
    • United States District Courts. 2nd Circuit. United States District Courts. 2nd Circuit. Southern District of New York
    • February 1, 2018
    ...impose new obligations on banks, including State National Bank. For example, in 2012 the Bureau promulgated the Remittance Rule. See 12 C.F.R. §§ 1005.30 – 1005.36. The Remittance Rule imposes disclosure requirements on institutions that offer international remittance transfers, which are e......
  • State Nat'l Bank of Big Spring v. Lew, Nos. 13–5247
    • United States
    • United States Courts of Appeals. United States Court of Appeals (District of Columbia)
    • July 24, 2015
    ...impose new obligations on banks, including State National Bank. For example, in 2012 the Bureau promulgated the Remittance Rule. See 12 C.F.R. §§ 1005.30 –1005.36. The Remittance Rule imposes disclosure requirements on institutions that offer international remittance transfers, which are el......
11 firm's commentaries
  • CFPB Proposes Definition of Larger Participants for the International Money Transfer Market
    • United States
    • JD Supra United States
    • January 27, 2014
    ...year, then the person is deemed not to be providing remittance transfers for a consumer in the normal course of its business. 12 C.F.R. § 1005.30(f)(2). 7 5 U.S.C. § 609(b). 8 See, e.g., Final Report of the Small Business Review Panel on CFPB’s Proposals Under Consideration for Residential ......
  • CFPB Issues Final Remittance Transfer Regulations Under Dodd-Frank Act
    • United States
    • JD Supra United States
    • February 9, 2012
    ...of the Federal Reserve in May 2011, see 76 Fed. Reg. 29902 (May 23, 2011). 2 Pub. L. 111-203, 124 Stat. 1376, § 1073 (2010) 3 12 C.F.R. §§ 1005.30 – .36. 4 An EFT is defined as: “any transfer of funds that is initiated through an electronic terminal, telephone, computer, or magnetic tape fo......
  • Dodd-Frank News: November 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update
    • United States
    • JD Supra United States
    • November 3, 2015
    ...Bank was subject to regulation by the CFPB and had, in fact, been regulated by the CFPB because it was subject to the Remittance Rule, 12 C.F.R. §§ 1005.30-1005.36, which requires institutions that offer electronic money transfers to make certain disclosures. While the Remittance Rule offer......
  • CFPB Proposes Definition Of Larger Participants For The International Money Transfer Market
    • United States
    • Mondaq United States
    • February 3, 2014
    ...year, then the person is deemed not to be providing remittance transfers for a consumer in the normal course of its business. 12 C.F.R. § 1005.30(f)(2). 7 5 U.S.C. § 8 See, e.g., Final Report of the Small Business Review Panel on CFPB's Proposals Under Consideration for Residential Mortgage......
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