MADISON, Wis.-The new remittance transfer rules that take effect Oct. 28 bring with them some tough decisions for credit unions-especially those falling just outside the guidelines, reports CUNA Mutual Group.

Due to the work involvedin complying with the new rules, a number of credit unions are deciding it's simpler just to exit the remittance business, reports Lauren Capitini, regulatory compliance manager. "However for those institutions on the cusp of this rule's safe harbor, the decision could be very difficult."

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