More U.S. Banks, Credit Unions Given Remittance Fee Exemptions

More U.S. banks and credit unions will be allowed to estimate the international remittance fees they charge consumers in instances when it may be too expensive to provide exact figures under a new rule issued on Monday.

The Consumer Financial Protection Bureau (CFPB) said the measure raises the transaction threshold at which companies may be entirely exempted from providing exact figures from 100 to 500 or fewer remittances annually, reducing the burden on more than 400 banks and almost 250 credit unions.