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25 May 2020

U.S. Consumer Protection Agency Says Ripple’s Technology Fosters Transparency 

U.S. Consumer Protection Agency Says Ripple’s Technology Fosters Transparency 


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The United States Consumer Financial Protection Bureau (CFPB), an agency that focuses on protecting the interest of consumers in the financial sector, has acknowledged the potential of Ripple and XRP in the remittance ecosystem, according to reports on May 18, 2020.

As stated in its proposed rule change document entitled “Remittance Transfers under the Electronic Fund Act (Regulation E), which aims to amend the existing Remittance Rule and promote transparency in remittances, the Bureau of Consumer Financial Protection (CFPB) has made it clear that Ripple’sblockchaintechnology can make remittances less opaque.

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