CUNA calls for higher remittances exemption threshold

first_imgThe Consumer Financial Protection Bureau’s remittance transfer exception is too low and unintentionally harming consumers by forcing providers out of the market, CUNA wrote to the bureau Friday. The letter was sent in response to the CFPB’s review of its remittance assessment.“We believe the rule has also clearly resulted in unintended harm to consumers,” the letter reads. “The harm is generally in the form of decreased availability of remittance services and/or increased prices where such services are available. The price increase is due in part to an increase in compliance costs under the current rule as well as a decrease in competition among remittance transfer providers.“Competition has decreased because of providers intentionally limiting remittance transfers to remain below the safe harbor threshold as well as former providers exiting the remittance market entirely because of its failure to remain economically viable,” the letter adds.CUNA called for CFPB to raise the safe harbor threshold to entities providing at least 1,000 remittances annually, up from the current 100. 10SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

Support the Conchetta House Through the Pepsi Refresh Project! Vote Now!

first_imgFor more information about the Conchetta House and their work, visit their Facebook page at: Facebook2Tweet0Pin0By MorganSummer is usually devoted to vacations and leisure time for most people. Even though the majority of us are feeling the pinch of this economy at present, usually we know where our next meal is coming from, have the ability to afford clothing and school supplies for our children, or enjoy a nice place to kick back and relax. Even if we are not where we would like to be this Summer, it always is necessary to remind ourselves that there are those around us who are less fortunate and could use a hand. One does not need to go to Africa to find hunger, or Haiti or Japan to find the orphaned, or whole families who have had their lives torn apart. There are people in our own neighborhoods, schools and cities that need our help as Summer fades and Winter approaches with a fresh set of challenges.In Thurston County, there is no shortage of ways to positively impact our community for the better. Local residents and businesses have taken it upon themselves to create ways to help those in need in preparation for Fall. Some of them, like supporting the Conchetta House (an organization that helps single-parents and their children to find housing while completing college) can be as easy as a click or a text! Located in East Olympia, the Conchetta house is currently supporting four mothers and eight children by matching them with subsidized housing and other critical resources. However, their efforts require money, the Conchetta House needs your help to win much needed funding from Pepsi’s Refresh Project. The project is devoted to awarding grant money to the organizations or community start-ups with the highest votes, in various amounts each month. The Conchetta House needs at least $50,000 to continue their work and expand their ability to take on more families. You have until early November to get all of your votes in. You can vote up to five times per day, or if you look under a lucky Pepsi bottle cap, you could win 100 power votes to put toward various ideas of your choice. To vote, just text 108155 to 73774 or visit their idea page right away at: read more