CFPB Releases Dodd-Frank Report on Remittance Transfer Exchange Rates Information and Use of Remittance Histories in Credit Scores

On July 20, 2011, the Consumer Financial Protection Bureau (CFPB) released a report (available here), discussing the transparency and disclosure of exchange rate information used in remittance transfers, and the use of remittance transfer histories for consumer credit scoring.  The report, which was required by the Dodd-Frank Act, follows the Federal Reserve Board’s earlier release... Continue Reading