The Clearing House Association submitted a comment letter, joined by six other trade associations, responding to the CFPB’s proposal to revise the remittance transfer rule. The letter suggests that the rule should: (i) eliminate the requirement to disclose recipient institution fees or replace it with a “may apply” statement, (ii) replace the requirement to disclose estimated foreign tax amounts with a “may apply” statement, and (iii) exclude from the definition of “error” any delay, extra cost, or loss of funds that results from a sender’s incorrect instructions, if the provider has correctly executed those instructions. The letter also requests that if the Bureau does not adopt the industry’s suggested changes, the final rule become effective in 180 days, rather than the proposed 90 days, after release.