Consumer Banking and Payments Law: 6.5.2.1a Exemptions from Regulation E Protections for Remittances
The CFPB’s original regulations for remittances, adopted in 2013, excluded from the definition of “remittance transfer provider” those providers who, in the normal course of business, provided 100 or fewer remittance transfers in both the previous and the current calendar year.166 The 2020 amendments to these regulations increased the threshold to 500 or fewer remittance transfers in both the previous and current calendar year.167