[Federal Register Volume 79, Number 95 (Friday, May 16, 2014)]
[Proposed Rules]
[Page 28458]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-11421]


 ========================================================================
 Proposed Rules
                                                 Federal Register
 ________________________________________________________________________
 
 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
 
 ========================================================================
 

  Federal Register / Vol. 79, No. 95 / Friday, May 16, 2014 / Proposed 
Rules  

[[Page 28458]]



BUREAU OF CONSUMER FINANCIAL PROTECTION

12 CFR Part 1005

[Docket No. CFPB-2014-0008]
RIN 3170-AA45


Electronic Fund Transfers (Regulation E)

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Proposed rule; extension of comment period.

-----------------------------------------------------------------------

SUMMARY: On April 25, 2014, the Bureau of Consumer Financial Protection 
(Bureau) published in the Federal Register a Notice of Proposed 
Rulemaking proposing amendments to certain requirements set forth in 
subpart B of Regulation E related to remittance transfers (Remittance 
Proposal). The Remittance Proposal allowed a 30-day comment period that 
will end on May 27, 2014. To allow interested persons additional time 
to consider and submit their responses, the Bureau has determined that 
an extension of the comment period until June 6, 2014, is appropriate.

DATES: The comment period for the Remittance Proposal published April 
25, 2014, at 79 FR 23233, is extended. Responses must now be received 
on or before June 6, 2014.

ADDRESSES: You may submit comments, identified by Docket No. CFPB-2014-
0008 or RIN 3170-AA45, by any of the following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Mail/Hand Delivery/Courier: Monica Jackson, Office of the 
Executive Secretary, Consumer Financial Protection Bureau, 1700 G 
Street NW., Washington, DC 20552.
    Instructions: All submissions should include the agency name and 
docket number or Regulatory Information Number (RIN) for this 
rulemaking. Because paper mail in the Washington, DC area and at the 
Bureau is subject to delay, commenters are encouraged to submit 
comments electronically. In general, all comments received will be 
posted without change to http://www.regulations.gov. In addition, 
comments will be available for public inspection and copying at 1700 G 
Street NW., Washington, DC 20552, on official business days between the 
hours of 10 a.m. and 5 p.m. Eastern Time. You can make an appointment 
to inspect the documents by telephoning (202) 435-7275.
    All comments, including attachments and other supporting materials, 
will become part of the public record and subject to public disclosure. 
Sensitive personal information, such as account numbers or Social 
Security numbers, should not be included. Comments generally will not 
be edited to remove any identifying or contact information.

FOR FURTHER INFORMATION CONTACT: For general inquiries, submission 
process questions, or any additional information, please contact Monica 
Jackson, Office of the Executive Secretary, 202-435-7275.

SUPPLEMENTARY INFORMATION: On April 15, 2014, the Bureau issued the 
Remittance Proposal. The Remittance Proposal was published in the 
Federal Register on April 25, 2014. The Remittance Proposal seeks 
comment, data and information from the public about proposed amendments 
to certain disclosure and error resolution requirements set forth in 
subpart B of Regulation E, which implements the Electronic Fund 
Transfers Act. Among other clarifying amendments and technical 
corrections, the Remittance Proposal would extend a temporary provision 
that permits insured institutions to estimate certain pricing 
disclosures pursuant to section 1073 of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act. Absent further action by the 
Bureau, that exception expires on July 21, 2015.
    The comment period on the Remittance Proposal was to close on May 
27, 2014.
    The Bureau has received a number of oral and written requests from 
industry trade groups asking that the Bureau extend the Remittance 
Proposal comment period. The requests indicated that additional time 
would enable interested parties to more thoroughly evaluate and respond 
to the specific issues raised in the proposal.
    The Bureau balances interested parties' desire to have additional 
time to consider the issues raised in the Remittance Proposal, gather 
data, and prepare their responses, with the need to provide industry 
and consumers with certainty and ample time to plan in advance of July 
21, 2015, the date by which, absent further action by the Bureau, the 
temporary exception is set to expire. Accordingly, the Bureau 
determines an extension of the comment period is appropriate and is 
extending the period allotted for comments received pursuant to the 
Remittance Proposal for 10 additional days. The comment period will now 
close on June 6, 2014.

    Dated: May 12, 2014.
Richard Cordray,
Director, Bureau of Consumer Financial Protection.
[FR Doc. 2014-11421 Filed 5-15-14; 8:45 am]
BILLING CODE 4810-AM-P