The Consumer Remittance Rule


Description: Consumer Remittance Rule provides the background and purpose of the rule. It covers the facts and circumstances behind determining if and when an institution provides remittance transfers in the normal course of business. This course also describes the disclosure requirements and the cancellation and error resolution procedures under this rule.


Audience: Tellers, CSRs, Call Center employees or anyone responsible for accepting or processing foreign remittance transfer requests from consumers.


Learning Objectives: After completing this course, students will be able to:

  • Explain the background behind the remittance rule
  • Determine the coverage in the remittance rule
  • Describe the disclosure requirements under the remittance rule
  • Explain the protections afforded to consumers under the remittance rule