Late last week, the CFPB issued one of its “larger participants” final rules, this one asserting the bureau’s regulatory authority over larger nonbank providers of international money transfers, otherwise known as remittances. The CFPB said the new rule – largely unchanged from the proposed rule released in January – will help ensure that such providers are complying with the bureau’s existing protections for consumers sending money abroad. Under the final rule, as of Dec. 1, 2014, examiners from the bureau will be able to scrutinize larger nonbank international money transfer providers for compliance with the bureau’s original remittances rule, which was issued back in October 2013. At the top of the list are tougher disclosures. Under federal law, remittance transfer providers generally ...