The CFPB’ s new remittance transfer rule became effective on October 28 and to mark the occasion, the CFPB announced the launch of a nationwide multimedia campaign directed at consumers.
The campaign includes the CFPB’s provision of posters and other printed materials to community groups, immigrant organizations, consulates, and other government agencies. Those materials include a consumer factsheet and a stakeholder factsheet. Financial services companies will be able to order or download the materials. The stakeholder factsheet is available in English and Spanish and the other printed materials are available in English, Spanish, Chinese, Tagalog and French-Creole.
The CFPB also added several new questions and answer about the rule to “Ask CFPB” and plans to “engage consumers online, including through social media to discuss the rule, and encourage other key stakeholders to do the same.”
On November 22, Ballard Spahr will be conducting a webinar entitled “Getting Wired for Consumer Wire Transfers: Complying with the CFPB’s Remittance Transfer Rule.” More information and a link to register is available here.