The remittance transfer rule applies to transactions that (i) qualify as remittance transfers, and (ii) are sent by people or companies that qualify as remittance transfer providers. This rule is a part of Regulation E.
Remittance transfers are electronic transfers of funds that are more than $15 requested by consumers in the United States and sent to people or companies in foreign countries. These transfers include many types of international transfers, including cash-to-cash money transfers, international wire transfers, international ACH transactions, and certain prepaid card transfers.
Companies that consistently send 100 or fewer remittance transfers a year do not qualify as remittance transfer providers and are not covered by the rule. If you are in what do you have to do? This webinar will cover the requirements for providers under Regulation E.
Topics Will Include:
- What is the rule about?
- What does it require?
- Disclosure obligations
- Cancellation and error resolution rights
- What is a remittance transfer and what qualifies a company as a remittance transfer provider?
- Is there a remittance transfer?
- Are you a remittance transfer provider?
- What do providers have to do to comply with the rule?
- What are your disclosure obligations?
- Estimates allowed in limited circumstances
- Cancellation, refund, and error resolution rights
- Liability for agents
- Model Forms
Who Should Attend?
Compliance Officers, Deposit Operations, Account Services and any Regulation E compliance personnel.
Instructor
Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures.
She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 30+ years of combined teaching and banking experience.