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Outlier Briefing: TransferWise’s head of policy Nick Catino on the CFPB’s final Remittance Rule

  • The CFPB's new guidance on the Remittance Rule is a step back for transparency around pricing.
  • TransferWise's Nick Catino puts it in context and charts a future that follows Europe's lead.
Zachary Miller | June 16, 2020
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Outlier Briefing: TransferWise’s head of policy Nick Catino on the CFPB’s final Remittance Rule

Welcome to Tearsheet’s Outlier Briefing. This subscriber-only content is exclusive for our Outlier members. We go deeper with subject matter experts, to take actionable steps that can impact your business and practice.

The Consumer Financial Protection Bureau recently released its final rule covering remittance transfers. While the Remittance Rule requires transfer providers to generally disclose the exact exchange rate, the amount of certain fees, and the end amount expected to be delivered, it also allows certain banks and credit unions to continue to provide estimates of the exchange rate and certain fees under certain conditions.

 

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