Payment fees

CFPB proposes expanding safe harbor in remittance rule


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.


House GOP calls on CFPB to continue remittance rule exemptions


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


Fee momentum timely for U.S. Bancorp


Executives at the Minneapolis bank, who expect two Fed rate cuts this year, said they can rely on growth in noninterest income to soften the blow.


Early adopter: Clearing House real-time payments lands first small bank


Avidia Bank joins the network even as other community banks call on the Fed to create its own real-time payment service to compete.


Temporary relief from CFPB remittance rule set to expire next year


The rule requires disclosure of exact fees but institutions can estimate pricing under an exception that will expire in 2020. The CFPB is seeking comment to prepare for that deadline.


Commercial, mortgage, card lending rise at U.S. Bancorp


The Minneapolis bank reported mid- to high-single-digit improvement in those categories, but total loan growth was curbed by declines in CRE and other credit types.


Real-time payments needs more competition


The Federal Reserve has suggested it could join the market for instant interbank payments, but private sector entrants would be better.