10 Mar 2025
💳CFPB Seeks Comments on Electronic Fund Transfer Regulation E
Agency Information Collection Activities: Comment Request
Summary
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (CFPB) requests the Office of Management and Budget's (OMB's) extension of the existing information collection titled "Electronic Fund Transfer Act (Regulation E)" approved under OMB Control Number 3170-0014.
Agencies
- Consumer Financial Protection Bureau
Business Impact
$$$ - High
The notice describes a request for comments on the extension of an information collection related to the Electronic Fund Transfer Act, which imposes compliance obligations on businesses offering EFT services. Compliance with Regulation E is critical for maintaining consumer trust and avoiding penalties, affecting operational and financial aspects of businesses.