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Volume 25 - Number 3

February 3, 2014

CFPB Proposes to Oversee Larger Nonbank Money Transfer Firms

The CFPB has issued a proposed rule that would allow it to supervise “larger participant” nonbank international money-transfer providers for the first time. The CFPB’s proposed rule would subject any nonbank international money transfer provider that provides more than 1 million international money transfers annually to the bureau’s supervisory authority under the agency’s remittance rule, which took effect in October 2013. Under the proposal, bureau examiners would be able to examine larger nonbank international money-transfer providers...

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

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