Topic: Reg. E – Electronic Fund Transfers
-
CFPB withdraws four proposed rules; search for a permanent director continues
NEWS: The CFPB recently announced that it is withdrawing four proposed regulations. The first is a proposed interpretive rule regarding how the Electronic Fund Transfers Act may apply to emerging payment […]
-
NCUA: Letter to Credit Unions No. 25-CU-01 – NCUA’s 2025 Supervisory Priorities (January 2025)
This letter outlines the NCUA’s supervisory priorities and other updates to the agency’s 2025 examination program. Our priorities focus on the areas posing the highest risk to credit union members, […]
-
CUs may want to keep proof of Reg. E opt-ins indefinitely
TIP: The CFPB issued a circular last week, explaining that financial institutions may violate Reg. E if they charge consumers certain overdraft fees without affirmative proof that those consumers “opted in” and consented […]
-
Police reports & Reg. E unauthorized transfers
TIP: If you attended our recent Fall Compliance Roundtable in Wisconsin Dells, you know that one of our speakers was Tom Theune, Deputy Director of the Wisconsin Office of Credit Unions. […]
-
Check your overdraft opt-in notice form after federal court decision
TIP: A Delaware federal court’s recent decision should get the attention of all U.S. credit unions that charge fees for overdraft protection. The court allowed a class action lawsuit to continue […]
-
America’s Credit Unions: e-Guide – Remittance Transfers (Regulation E)
This links to America’s Credit Unions’ e-Guide section on Remittance Transfers (Regulation E). (Note: Requires America’s Credit Unions login.)
-
America’s Credit Unions: e-Guide – Electronic Transfer of Funds, Regulation E
This links to America’s Credit Unions’ e-Guide section on electronic transfer of funds reviews. (Note: Requires America’s Credit Unions login.)
-
FRB: Consumer Compliance Handbook – Reg. E: Electronic Fund Transfers (11/13) 25 pp.
Federal Reserve Board’s Consumer Compliance Handbook section on this topic. See section starting at page 12.
-
CFPB: Remittance Rule Safe Harbor Countries List as of September 26, 2012
The remittance rule, released February 7, 2012, provides that the Consumer Financial Protection Bureau will publish a safe harbor list of countries that qualify for an exception in the rule, […]
-
CFPB: International Fund Transfers: Small Entity Compliance Guide, Version 3.0 (August 22, 2014) 40 pp.
As of Feb. 2013, Reg. E requires disclosures and other consumer protections if your credit union regularly provides “international remittance transfers” – cross-border electronic funds transfers over $15 that are […]