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The Boston Globe

Business

Money-transfer rule will be revised

The Consumer Financial Protection Bureau will revise rules for international money transfers after banks complained that the agency’s current plan could push some of them out of the business.

The bureau, which had said final regulations on so-called remittances would take effect Feb. 7, plans to issue a proposed revision in December, according to a statement on Tuesday. The changes will address what should happen if a consumer provides an incorrect account number for a transfer and how remittance providers must disclose third-party fees and foreign taxes.

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