Money transfers

CFPB urged to protect elderly from pandemic scammers

03/22/20

The COVID-19 pandemic has already given rise to false marketing of test kits and criminals impersonating the FDIC. Consumer advocates say the bureau could issue alerts as well as empower banks to help safeguard their customers’ funds.

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CFPB proposes expanding safe harbor in remittance rule

12/03/19

The agency announced changes meant to reduce compliance costs and allow some institutions to provide estimates rather than disclose exact prices for international money transfers.

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House GOP calls on CFPB to continue remittance rule exemptions

09/30/19

House Republicans are pushing the CFPB to continue to allow banks and credit unions to estimate exchange rates and fees for money transfers.

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Zelle founder to helm Ripple rival Interstellar

09/12/19

The creator of Zelle precursor clearXchange is heading a company building a blockchain-based international payment technology for banks.

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CFPB fines money transmitter Maxi for deceiving consumers

08/28/19

The CFPB ordered Texas money transmitter Maxi to pay a $500,000 fine for allegedly deceiving consumers by saying the company is not responsible for errors made by agents.

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Postal banking's risks, Wells' endless problems, Capital One's M&A deal: Top stories of the week

08/23/19

Financial services is a dangerous diversification play for USPS, a contributor writes; Sen. Elizabeth Warren tells acting CEO that Wells Fargo is "still fundamentally broken"; Capital One buys a tech-focused investment bank; and more from this week's most-read stories.

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Postal banking won’t deliver for USPS

08/20/19

Proponents of a plan to get the Postal Service more involved in banking say it would restore profitability. Actually it would lose more money.

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Bipartisan AML bill is just the right touch

08/02/19

Under the Illicit Cash Act, anti-money-laundering rules would be clearer — so banks would have no excuses for noncompliance.

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State regulators are critical to fintech oversight

07/15/19

The argument that only the federal government is up to the task is misguided.

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One banker's advice for product development: Let customers pitch in

06/18/19

There’s a long list of reasons traditional lenders haven't kept up with the needs of entrepreneurs, says Judith Erwin, the head of Grasshopper Bank in New York. One is not asking for enough feedback.

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