This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BNY Mellon Announces On-Line Global Payments Disclosure Solution

NEW YORK, March 18, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, today announced that its Treasury Services business is introducing an innovative online solution that assists financial institution clients in meeting disclosure requirements as outlined in the Consumer Financial Protection Bureau's recent revisions to Regulation E under Section 1073 of Dodd Frank.

The revisions mandate disclosure of all related fees, including FX conversion fees, to U.S. consumers whenever they originate a cross-border remittance payment.  Remittance transfer providers must also comply with requirements for resolving inquiries from consumers related to remittance transactions.  BNY Mellon's Web-based Global Payments Disclosure Solution produces a fully formatted disclosure with prepayment, receipt and combined disclosure options that can be given directly to consumers.  It does not dictate how clients handle the foreign exchange portion of the cross-border payment, does not limit their selection of correspondent banks, and allows clients to transmit remittance transactions to BNY Mellon using a variety of front-end platforms. 

"The debut of our Global Payments Disclosure Solution well in advance of the compliance deadline marks the successful completion of an extensive collaboration with many others in the banking community," said Susan Skerritt, executive vice president and global head of business strategy and market solutions for BNY Mellon's Treasury Services group.  "This solution is a great example of how we're leveraging our strengths in payment processing, information reporting and compliance assistance to help our client succeed  in strategically important markets."  

As with all BNY Mellon treasury services offerings, this solution is supported by a 24/7 client support team.  Clients will be provided with all the information needed to implement the solution, including sample agreements, training materials, and access to the solution toolkit. 

With locations on six continents and an extensive global network of correspondent financial institutions, BNY Mellon's Treasury Services group delivers high-quality performance in global payments, trade services, and cash management. It helps clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 countries.  The  company is a top-five participant in both the CHIPS and overall funds transfer markets, and is a recognized leader in the delivery of private-label treasury services solutions for banks and other large institutional clients.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs