CFPB Updates Oversight for Major International Money Transfer Firms
Published Date: 8/8/2025
Proposed Rule
Summary
The Consumer Financial Protection Bureau (CFPB) wants to update the rules that decide which big players in international money transfers need extra oversight. This could affect companies sending money across borders and might lead to new rules soon. The CFPB is asking for feedback now to help shape these changes, which could impact how these companies operate and protect consumers.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
CFPB may redefine 'larger participants'
The CFPB is asking for information to decide whether to change the test that defines “larger participants” in the international money transfer market from the Final Rule published on September 9, 2014. If the CFPB proposes and later adopts changes, it could alter which companies that send money across borders must follow extra CFPB oversight and could lead to new rules affecting how those companies operate and protect consumers.
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