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.


U.K.'s Transferwise, once a rival to banks, launches with U.S. FIs


TransferWise once marketed itself as Robin Hood-style rival to banks. Now it sees itself as an ally.


Why Wells Fargo is jumping on the digital currency bandwagon


It's not a reaction to JPM Coin, the banks says, but a way to speed up international payments for corporate clients.


Zelle founder to helm Ripple rival Interstellar


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


CFPB fines money transmitter Maxi for deceiving consumers


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.