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CFPB RIN: 3170-AA15 Publication ID: 2012 
Title: Disclosure Rules for Remittance Transactions (Regulation E) 
Abstract: The Consumer Financial Protection Bureau published in the Federal Register on February 7, 2012, a final rule to implement section 1 073 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), which added a new section 919 to the Electronic Fund Transfer Act (EFTA). Consistent with the statute, the final rule requires that remittance transfer providers give senders of remittance transfers certain disclosures, including information about fees, the applicable exchange rate, and the amount of currency to be received by the recipient. The final rule also implements two statutory exceptions that permit remittance transfer providers to disclose estimates of the amount of currency to be received, rather than the actual amount. In addition, the final rule provides error resolution rights for senders of remittance transfers and promulgates standards for resolving errors and recordkeeping rules. The final rule also provides senders specified cancellation and refund rights. 
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: 15 USC 1693o-1   
Legal Deadline:
Action Source Description Date
Final  Statutory    01/21/2012 
Timetable:
Action Date FR Cite
NPRM  05/23/2011  76 FR 29902   
NPRM Comment Period End  07/22/2011    
Final Rule  02/07/2012  77 FR 6194   
Merged With 3170-AA23  05/07/2012 
Regulatory Flexibility Analysis Required: Yes  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: Yes 
Related RINs: Related to 7100-AD76 
Agency Contact:
Dana Miller
Office of Regulations
Consumer Financial Protection Bureau
Phone:202 435-7700