19-EA-09: CFPB - Request for Information Regarding Potential Regulatory Changes to the Remittance Rule

On April 29, 2019, the Bureau of Consumer Financial Protection (Bureau or CFPB) published a request for information (RFI) regarding three principle issues related to the remittance transfer rule: (1) how the Bureau can mitigate the expiration of a useful statutory exception for providing estimates in prepayment disclosures, (2) whether to change the safe harbor threshold in the rule that determines whether a credit union makes remittance transfers in the normal course of business, and (3) whether an exception for small financial institutions may be appropriate.

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