Electronic Fund Transfers (Regulation E) Temporary Delay of Effective Date

The Bureau of Consumer Financial Protection ("Bureau") is delaying the February 7, 2013, effective date of final rules published by the Bureau on February 7, and August 20, 2012 (collectively, the "2012 Final Rule"), that amend Regulation E, which implements the Electronic Fund Transfer Act ("EFTA"). The Final Rule implements statutory requirements set forth in Section 1073 of the Dodd-Frank Act regarding remittance transfers. The Bureau is delaying the effective date of the 2012 Final Rule pending the finalization of a proposal, published on December 31, 2012 ("December 2012 Proposal"), that would address three issues in the 2012 Final Rule. The Bureau will determine the new effective date when it finalizes the December 2012 Proposal.

View Final Rule in full here (links externally to Bureau website).See also: Press Release.