CFPB Issues Remittance Transfer Consent Order
By EsqSocial Corporation 24/12/20
On December 21, 2020, the CFPB issued its third consent order involving violations of Subpart B of Regulation E, 12 C.F.R. §§ 1005.30 to 1005.36, the Remittance Transfer Rule (“Remittance Rule”) in the last four months and fourth order since August 2019. This most recent consent order was issued against Envios de Valores La Nacional Corp. (“La Nacional”), a non-bank remittance provider that offers remittance transfers through a network of retail branches and agents to primarily Central American...
By: Ballard Spahr LLP