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The CFPB announced that credit unions providing 100 or fewer international money transfers annually will be exempt from the Remittance Transfer Rule that will take effect February 7, 2013.  The rule’s onerous requirements likely would have forced many credit unions to stop providing these types of transfers to their members.  The CFPB also revised certain rules related to preauthorized remittance transfers in an effort to reduce the compliance burden on institutions that will have to comply with the rule. Read More