TITLE

B of A Launches Software for Compliance with Dodd-Frank Remittance Rules

AUTHOR(S)
Cumming, Chris
PUB. DATE
March 2013
SOURCE
American Banker;3/28/2013, Vol. 178 Issue 48, p8
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports Bank of America (B of A) Merrill Lynch released two software applications, FXtransact White Label and Bank of America Merrill Lynch Information Exchange for Payments, that address the U.S. Dodd-Frank Act's Remittance Regulation 1073 for international payments. The article notes the regulation requires banks to disclose information about the cost and delivery terms for cross-border payments or remittances. A press release from B of A executive Greg Murray is noted.
ACCESSION #
86435671

 

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