Links in “Regulation E (EFTA)/Remittance Transfers”
- CFPB Compliance Bulletin Focus is on Automatic Debits
The latest CFPB Compliance Bulletin reminds financial institutions about the regulatory requirements for pre-authorized debits under Regulation E and identifies some best practices regarding consumer notifications. The issue also contains a snapshot of this monthâs consumer complaints, focusing on concerns about opening and closing accounts, dispute resolutions, and check holds. [11/25/15]
- Reg. E Explained: Helping Customers Worried About Their Accounts Being Drained by Cyberthieves
With all the headlines about stolen bank account credentials, customers may be worried about their accounts being drained by cyberthieves. Here's an overview of the protections offered by Reg. E. [11/20/15]
- 10 Questions to Ask to Ensure Youâre Ready for the TILA/RESPA Integrated Disclosure
August 1st will be here before you know it. Are you sure youâll be ready for a smooth implementation of the new TILA/RESPA integrated disclosures? Hereâs ten questions to ask yourself to make sure youâre prepared. [4/23/15]
- Chart-topping Webinar Now Available!
A recorded webinar featuring NCUA's Debbie Matz and CFPB's Richard Cordray is now available online. Featuring topics ranging from RESPA/TILA to international remittances, you don't want to miss this one! [3/25/15]
- CUNA Says CFPBâs Proposed Rule on Prepaid Accounts May Have Adverse Consequences
In a comment letter to the CFPB regarding its proposed rule on prepaid accounts, CUNA warns that applying Regulation E to prepaid accounts may not be appropriate and could result in these types of accounts being less accessible, particularly by the underserved. [3/24/15]
- Treasury Issues Rule to Implement Cuban Sanction Changes
The Treasury Departmentâs Office of Foreign Asset Control issued a final rule to implement changes to the sanctions imposed on Cuba. The changes affect remittances, permit U.S. financial institutions to open correspondent accounts at Cuban financial institutions, and authorize certain transactions with Cuban nationals located outside of Cuba. [1/16/15]
- New Rules Proposed for Prepaid Financial Products
CFPB is proposing to amend Regulation E, Regulation Z, and the official interpretations to create comprehensive consumer protections for prepaid financial products. The proposal would cover prepaid accounts such as cards, codes, or other devices capable of being loaded with funds and usable at unaffiliated merchants or for person-to-person transfers and are not gift cards. See proposed rule here. [12/23/14]
- New CFPB Agenda Announced
The CFPB published its half-year 2015 regulatory agenda in the Federal Register. The more significant regulatory efforts listed include implementing the Dodd-Frank Act's mortgage protections including anticipated revisions and streamlining of key mortgage regulations including HMDA, RESPA, and TILA. The agenda further anticipates revisions to Regulation CC, the Expedited Funds Availability Act, and business lending rules under ECOA. [12/22/14]
- Considering Apple Pay? Better Know the Rules!
If you are considering offering Apple Pay through your credit union, you need to be aware of the regulatory requirements, including compliance with vendor management requirements, as well as the regulatory requirements under Regulation Z and Regulation E. [12/12/14]
- What’s New at the CFPB?
Not much new reported in the CFPB's most recent semi-annual report. But it did break down the number of enforcement actions for TILA violations, EFTA violations, and CARD Act violations. [12/9/14]
