Statute
Regulation E
92 published works
Regulatory Oversight
CFPB Updates Exam Procedures for Remittance Transfers
By Keith J. Barnett, Ethan G. Ostroff, Carlin McCrory
On February 14, the Consumer Financial Protection Bureau (CFPB) updated its Supervision and Examinations Manual to reflect changes it made to the Remittance Transfer Rule (Rule) in a final rule…
Consumer Finance Monitor
CFPB issues compliance bulletin on application of EFTA compulsory use prohibition to government benefits
By Ronald K. Vaske, Glen P. Trudel
The CFPB has issued a compliance bulletin “to reiterate that the compulsory use prohibition in the [Electronic Fund Transfer Act (EFTA)] applies to government benefit accounts, as defined in Regulation…
Consumer Finance Monitor
CFPB updates electronic fund transfers FAQs
Last month, the CFPB updated its Electronic Fund Transfers FAQs that address compliance with the Electronic Fund Transfer Act (EFTA) and Regulation E. The FAQs provide guidance on Regulation E’s…
The Fintech Report
Fintech Legal Report – Week of December 17, 2021
By Sam Boro
Weekly Fintech Focus The CFPB sent orders to five large BNPL companies seeking information on their business practices and regulatory posture. The CFPB published its Fall 2021 rulemaking agenda, giving…
Consumer Finance Monitor
Coming Soon: Nacha’s Meaningful Modernization Rule
Last fall, Nacha finalized its Meaningful Modernization rule which provides for significant changes to the Nacha Operating Rules. According to Nacha, the amendments are intended to facilitate adoption of new…
Regulatory Oversight
CFPB Updates Electronic Fund Transfers FAQs
By Keith J. Barnett, Carlin McCrory
On June 4, the Consumer Financial Protection Bureau (CFPB) issued a frequently asked question and answer guide. Regulation E, in part, establishes limitations on a consumer's liability and requires investigations…
Consumer Finance and Fintech Blog
CFPB Issues FAQs on Electronic Fund Transfers
By Moorari Shah, A.J. Dhaliwal
On June 4, the CFPB issued eight updated FAQs to the unauthorized transfer and error resolution provisions under the Electronic Fund Transfer Act (EFTA) and Regulation E. Highlights from the FAQs include…
Consumer Finance Monitor
CFPB Issues Remittance Transfer Consent Order
On December 21, 2020, the CFPB issued its third consent order involving violations of Subpart B of Regulation E, 12 C.F.R. §§ 1005.30 to 1005.36, the Remittance Transfer Rule (“Remittance…
Consumer Finance Monitor
This week’s podcast: CFPB exam findings in Summer 2020 Supervisory Highlights related to credit reporting (Fair Credit Reporting Act) and deposit accounts (Regulations E and DD)
We review the following findings and discuss their compliance implications: FCRA violations based on obtaining credit reports without a permissible purpose, incorrectly reporting the date of first delinquency, failing to…
Consumer Finance Monitor
FTC provides annual enforcement report to CFPB
The Federal Trade Commission recently provided its annual letter to the CFPB concerning its enforcement activities relating to compliance with Regulation Z (Truth in Lending Act), Regulation M (Consumer Leasing…