Western Union stores join MoneyGram under Walmart's roof


The pandemic has made for strange bedfellows. Case in point: Western Union and MoneyGram will soon share Walmart as a landlord.


In the middle of a pandemic, two remittance startups thrive


Remitly and TransferWise are benefiting from consumers' shift to digital payments and a turn toward banking services as global remittance volumes drop.


5 ways the CFPB has eased industry’s coronavirus burden


The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit.


CFPB expands relief for banks and credit unions from remittance rules


The agency will allow institutions providing 500 or fewer transfers a year to estimate costs in consumer disclosures rather than quote exact figures.


CFPB's Kraninger says QM proposal, remittance rule will be out by May


The agency's director said both steps will come as part of an ongoing review of agency rules and show "my commitment under the law to be effective and evidence based” in providing clarity to stakeholders.


Fighting terrorism while helping immigrants a tricky balancing act


The leader of a new Compliance and Payments Task Force dives into how it will address emerging issues of counterterrorism financing in the digital age.


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.


CFPB's final payday rule should be ready in spring, agency says


In an update of its rulemaking agenda, the bureau said it "expects to take final action in April 2020" on a proposal that would rescind strong underwriting requirements.


One challenger bank's plan to bring immigrants into financial mainstream


Majority, which will launch nationwide later this quarter, will use networks of immigrants to sell a mobile phone-based account that features unlimited remittances and international calling services.


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.