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Regulation E Compliance: New Remittance Transfer Requirements

Sponsored By ICS Risk Advisors

Banking & Capital Markets
Compliance & Governance
Professional Services > Consulting

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On February 7, 2012, the Consumer Financial Protection Bureau issued its Final Rule on implementing the changes to the Electronic Fund Transfer Act (EFTA). The final rule increased the originally proposed threshold of remittance transfers defining the "normal course of business" and adjusted the rules for preauthorized remittance transfers.

On August 7, 2012, the Consumer Financial Protection Bureau released its official interpretation and Final Rule on implementing the changes to Regulation E. This new white paper summarizes the changes to the Final Remittance Rule, analyzes key concepts and their compliance requirements, and provides an outline of additional requirements for subsequent preauthorized remittance transfers.
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Released: September 12, 2012
Length: 9 pages
Format: PDF (1628 kb)
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