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Challenges of Remittance Processing in a Changing Consumer Finance Landscape

 

In an era of rapidly changing technology, faster payment networks and increasing regulatory risk, it is little wonder that consumer finance companies finally appear set to adopt strategies that will help them navigate this dynamic landscape. Amid concerns about the added complexity of the Consumer Finance Protection Bureau (CFPB) as a tough regulatory agency wielding unprecedented power over how consumer finance companies in mortgage lending/servicing, student loans, small- dollar payday loans, auto leasing and a range of pre-paid and credit card products conduct business, companies are taking a keep up now or catch up later approach.

 

 

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