Burr Alert: Consumer Financial Protection Bureau Amends Regulation E And Regulation Z


In late March, the Consumer Financial Protection Bureau ("CFPB") issued final rules amending Regulation E, 12 C.F.R. § 1005.16, which implements the Electronic Fund Transfer Act, 15 U.S.C. § 1693 et seq. ("EFTA"), and Regulation Z, 12 C.F.R. § 1026.52(a), which implements the Truth in Lending Act, 15 U.S.C. § 1601 et seq. ("TILA").

The amendment to Regulation E implements a recent amendment to EFTA, which eliminated the requirement that a fee notice be posted on or at an automated teller machine ("ATM"). The amendment to Regulation Z refines the implementation of section 127(n)(I) of the Credit Card Accountability Responsibility and Disclosure Act of 2009 ("CARD Act") by providing that section 127(n)(I)'s 25 percent fee cap on credit card fees applies only to fees charged during the first year after the date of account opening. Each of these amendments are discussed in detail below.

Please see full Alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Burr & Forman | Attorney Advertising

Written by:


Burr & Forman on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.