{"abstract":"The Electronic Fund Transfer Act (EFTA), as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), establishes certain protections for consumers sending international money transfers, or remittance transfers. The Bureau of Consumer Financial Protection's (Bureau) remittance rule in Regulation E (Remittance Rule or Rule) implements these protections. The Bureau is proposing changes to the Rule to mitigate the effects of the expiration of a statutory exception that allows insured institutions to disclose estimates instead of exact amounts to consumers. That exception expires on July 21, 2020. In addition, the Bureau is proposing to increase a safe harbor threshold in the Rule related to whether a person makes remittance transfers in the normal course of its business, which would have the effect of reducing compliance costs for entities that make a limited number of remittance transfers annually.","action":"Proposed rule with request for public comment.","agencies":[{"raw_name":"BUREAU OF CONSUMER FINANCIAL PROTECTION","name":"Consumer Financial Protection Bureau","id":573,"url":"https://www.federalregister.gov/agencies/consumer-financial-protection-bureau","json_url":"https://www.federalregister.gov/api/v1/agencies/573","parent_id":null,"slug":"consumer-financial-protection-bureau"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2019/12/06/2019-25944.html","cfr_references":[{"chapter":null,"citation_url":null,"part":1005,"title":12}],"citation":"84 FR 67132","comment_url":null,"comments_close_on":"2020-01-21","correction_of":null,"corrections":[],"dates":"Comments must be received on or before January 21, 2020.","disposition_notes":null,"docket_ids":["Docket No. CFPB-2019-0058"],"dockets":[{"supporting_documents":[],"agency_name":"CFPB","documents":[{"comment_count":106,"comment_start_date":"2019-12-06","updated_at":"2023-02-28T13:54:45.593-05:00","comment_url":"https://www.regulations.gov/commenton/CFPB-2019-0058-0001","allow_late_comments":null,"id":"CFPB-2019-0058-0001","comment_end_date":"2020-01-22","regulations_dot_gov_open_for_comment":false}],"supporting_documents_count":0,"id":"CFPB-2019-0058","title":"Remittance Transfers under the Electronic Fund Transfer Act (Regulation E)"}],"document_number":"2019-25944","effective_on":null,"end_page":67167,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2019/12/06/2019-25944.xml","html_url":"https://www.federalregister.gov/documents/2019/12/06/2019-25944/remittance-transfers-under-the-electronic-fund-transfer-act-regulation-e","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2019-25944?publication_date=2019-12-06","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2019-12-06/2019-25944/mods.xml","not_received_for_publication":null,"page_length":36,"page_views":{"count":28065,"last_updated":"2026-10-24 14:15:04 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2019-12-06/pdf/2019-25944.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2019-25944.pdf?1575553515","publication_date":"2019-12-06","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2019/12/06/2019-25944.txt","regulation_id_number_info":{"3170-AA96":{"issue":"201910","html_url":"https://www.federalregister.gov/regulations/3170-AA96/remittance-transfers","title":"Remittance Transfers","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201910&RIN=3170-AA96&operation=OPERATION_EXPORT_XML","priority_category":"Other Significant"}},"regulation_id_numbers":["3170-AA96"],"regulations_dot_gov_info":{"supporting_documents":[],"comments_count":106,"agency_id":"CFPB","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=CFPB-2019-0058","supporting_documents_count":0,"docket_id":"CFPB-2019-0058","document_id":"CFPB-2019-0058-0001","regulation_id_number":null,"title":"Remittance Transfers under the Electronic Fund Transfer Act (Regulation E)","checked_regulationsdotgov_at":"2023-02-28T18:54:44Z"},"regulations_dot_gov_url":null,"significant":true,"signing_date":null,"start_page":67132,"subtype":null,"title":"Remittance Transfers Under the Electronic Fund Transfer Act (Regulation E)","toc_doc":"Remittance Transfers under the Electronic Fund Transfer Act (Regulation E)","toc_subject":null,"topics":["Consumer protection","Credit unions","Electronic funds transfers","Reporting and recordkeeping requirements","Savings associations"],"type":"Proposed Rule","volume":84}