Provides the background and purpose of the rule and the facts and circumstances behind determining if and when an institution provides remittance transfers in the normal course of business. Describes the disclosure requirements and the cancellation and error resolution procedures under this rule.
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