If your credit union sends 100 or more foreign wire transfers per year, your credit union will be subject to several new disclosure requirements on February 7, 2013. You can read all about these new requirements at http://www.consumerfinance.gov/regulations/final-remittance-rule-amendment-regulation-e/.
Cutek provides an automated wire transfer solution, (which you can read all about on our homepage), but the actual sending of the wires is handled by the Fed or whomever you use to send foreign wires. If you haven't already, you must contact the Fed (or your foreign wire processor) to find out how they can help you implement these new regulations.
At this time, Cutek is not aware of any interfaces or APIs that will allow a third-party to the wire process (such as Symitar, Jack Henry, or Cutek) to obtain the fee, tax and exchange rate information necessary to automatically generate the required disclosures. If the Fed (or your foreign wire processor) does offer an API, Cutek would be more than happy to review that API to determine the feasibility and cost for developing an interface to allow you to produce these disclosures as part of our automated wire transfer solution.
If you have any questions or are interested in learning more about Cutek's Automated Wire Transfer Solution, please contact us.