News & Analysis as of

Banking Sector Electronic Fund Transfer Act

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses case against Texas bank

On April 11, the CFPB filed its notice of dismissal without prejudice in a case within the U.S. District Court for the Northern District of Texas against a large bank. As previously covered by InfoBytes, the CFPB moved to...more

Nutter McClennen & Fish LLP

Nutter Bank Report: September 2024

The FDIC, OCC, and U.S. Department of Justice (DOJ) have coordinated the release of new policies that will govern each agency’s consideration of bank merger transactions. The FDIC and OCC each published final statements of...more

GeoDataVision

Electronic Funds Transfers-what you need to know when using cash applications such as Venmo

GeoDataVision on

Visit https://compliance911show.com for more episodes. Len and Dean focus on Electronic Funds Transfers, particularly person-to-person (P2P) payment apps like Venmo, Apple Pay, and Zelle. Dean elaborates on the December...more

Ballard Spahr LLP

Trade group urges CFPB not to impose liability on banks for fraudulent P2P payments

Ballard Spahr LLP on

The American Bankers Association has sent a letter to CFPB Director Chopra in which it urges the CFPB not to shift liability to banks for peer to peer (P2P) payments using an online-money transfer platform in which the...more

Hudson Cook, LLP

CFPB Fines Large National Bank $100 Million For Failing to Properly Disburse State Unemployment Benefits During the Height of...

Hudson Cook, LLP on

HIGHLIGHTS: The CFPB settled allegations that a large national bank unlawfully froze consumers' benefit accounts as a result of an inaccurate fraud detection program that made it difficult for people to unfreeze their...more

Ballard Spahr LLP

CFPB updates electronic fund transfers FAQs

Ballard Spahr LLP on

Last month, the CFPB updated its Electronic Fund Transfers FAQs that address compliance with the Electronic Fund Transfer Act (EFTA) and Regulation E.  The FAQs provide guidance on Regulation E’s coverage and on the error...more

Goodwin

SEC Proposes New Round of Money Market Fund Reforms

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) voted to propose money market fund reforms; the SEC also proposed amendments to Rule 10b5-1 trading plans and to modernize and improve share repurchase...more

Nutter McClennen & Fish LLP

Nutter Bank Report: June 2021

Fed Issues Proposed Rule for New Instant Electronic Payment Service - FedNow The Federal Reserve has issued a proposed rule that would govern funds transfers over the Federal Reserve’s new 24x7x365 service that will...more

Hudson Cook, LLP

CFPB Bites of the Month - January Top 10

Hudson Cook, LLP on

Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the Consumer Financial Protection Bureau (CFPB) for financial services providers to consider. In this month's article, we...more

Ballard Spahr LLP

FTC Provides 2016 Enforcement Report to CFPB

Ballard Spahr LLP on

The Federal Trade Commission has provided its annual Financial Acts Enforcement Report to the CFPB covering the FTC’s enforcement activities in 2016 relating to compliance with Regulation Z (Truth in Lending Act), Regulation...more

Ballard Spahr LLP

CFPB publishes Reg E corrections

Ballard Spahr LLP on

The CFPB has published a final rule in the Federal Register that makes several corrections to Regulation E (which implements the Electronic Fund Transfer Act). The corrections...more

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