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CFPB RIN: 3170-AA33 Publication ID: Fall 2013 
Title: Disclosure Rules For Remittance Transactions (Regulation E) 
Abstract: On February 7, 2012, the CFPB published in the Federal Register a final rule to implement section 1073 of the Dodd- Frank Wall Street Reform and Consumer Protection Act, which amended the Electronic Fund Transfer Act (EFTA) to create a comprehensive new Federal consumer protection regime for remittance transfers by U.S. consumers to individuals and businesses in foreign countries. Consistent with the statute, the final rule requires remittance transfer providers to provide certain disclosures, cancellation rights, and error resolution procedures. In August 2012, the CFPB published a final rule providing additional guidance regarding what companies are not subject to the rule because they do not provide remittance transfers in the "normal course of business" and modifying certain requirements as applied to remittance transfers scheduled several days in advance. In May 2013, the CFPB published an additional final rule that revised the requirements of the rule. Specifically, the CFPB revised requirements for errors resulting from incorrect account numbers provided by senders of remittance transfers and the disclosure of foreign taxes and third- party fees. The CFPB also set a new effective date for the rule of October 28, 2013. 
Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 1005   
Legal Authority: 12 USC 5512    12 USC 5581    12 USC 5601    15 USC 1693b   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  02/07/2012  77 FR 6310   
NPRM Comment Period End  04/09/2012 
Final Rule  08/20/2012  77 FR 50244   
Supplemental NPRM  12/31/2012  77 FR 77187   
Final Rule (Temporary Delay of Effective Date)  01/29/2013  78 FR 6025   
Supplemental NPRM Comment Period End  01/30/2013 
Supplemental Final Rule  05/22/2013  78 FR 30661   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 7100-AD68, Related to 3170-AA31 
Agency Contact:
Eric Goldberg
Office of Regulations
Consumer Financial Protection Bureau
Phone:202 435-7700