The final version of the Consumer Financial Protection Bureau's Remittance Transfer Rule went into effect October 28, 2013. The Rule imposes significant consumer protection requirements on international consumer funds transfers, including wire, ACH, prepaid cards, and other electronic funds transfers. The CFPB already has issued new examination procedures to assess not only the quality of an institution’s compliance risk management systems and the strengths or weaknesses of its business model, but also various risks outside the bounds of the Rule, including potential UDAAP and GLBA privacy (Regulation P) violations.

In this webinar, we will explore key facets of the Rule and identify the most urgent steps entities subject to it will have to take to comply, including: 

  • Identifying what types of transfers are subject to the Rule
  • Mandatory disclosures
  • Error resolution policies and procedures 
  • Refund and cancellation rights 
  • Exam preparation

Program

12:00 PM - 1:00 PM ET | Webinar

Moderator

Alan S. Kaplinsky, Practice Leader, Consumer Financial Services Group

Presenters

Keith R. Fisher, Consumer Financial Services Group
Trevor Salter, Consumer Financial Services Group

This program is open to Ballard Spahr clients and members of the financial services industry. There is no cost to attend. This program is not eligible for continuing education credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact Lisa Prickril at prickrill@ballardspahr.com.

Related Practices

Consumer Financial Services
Mortgage Banking