Electronic Fund Transfers (Regulation E) Temporary Delay of Effective Date (CFPB - Fed. Reg. Version)

The CFPB announced in the Federal Register that it 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.

Dates: The effective date of the Final Rules published on February 7, 2012 (77 FR 6194) and August 20, 2012 (77 FR 50244), and a technical correction published July 10, 2012 (77 FR 40459), is delayed. The Bureau will publish a document in the Federal Register announcing the new effective date.

Click here to view our original story on the temporary delay.

View Final Rule in full: 78 FR 6025.