United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2020_register executive 2020-04-25 article Rules and Regulations D09002ee1c7b7ad5c D09002ee1c7b7adcd United States Bureau of Consumer Financial Protection originator org United States Government Agency or Subagency The Bureau of Consumer Financial Protection (Bureau) is issuing this interpretive rule to provide guidance to government agencies distributing aid to consumers in response to the COVID-19 pandemic. The Bureau concludes in this interpretive rule that certain pandemic-relief payments are not "government benefits" for purposes of Regulation E and the Electronic Fund Transfer Act (EFTA) and are therefore not subject to the compulsory use prohibition in EFTA, if certain conditions are met. Specifically, government benefits do not include payments from Federal, State, or local governments if those payments: Are made to provide assistance to consumers in response to the COVID-19 pandemic or its economic impacts; are not part of an already-established government benefit program; are made on a one-time or otherwise limited basis; and are distributed without a general requirement that consumers apply to the agency to receive funds. 85 FR 23217 https://www.govinfo.gov/app/details/FR-2020-04-27/2020-08084 2020-08084 fr27ap20-4 4810-AM-P https://www.govinfo.gov/app/details/FR-2020-04-27/2020-08084 https://www.govinfo.gov/content/pkg/FR-2020-04-27/html/2020-08084.htm https://www.govinfo.gov/content/pkg/FR-2020-04-27/pdf/2020-08084.pdf 3 p. 23217 23219 85 FR 23217 Title 12 Part 1005 12 CFR Part 1005 Treatment of Pandemic Relief Payments Under Regulation E and Application of the Compulsory Use Prohibition; Federal Register Vol. 85, Issue RULE 2020-08084 BUREAU OF CONSUMER FINANCIAL PROTECTION 2020-04-27 4810-AM-P 2020-08084 Interpretive rule.

The Bureau of Consumer Financial Protection (Bureau) is issuing this interpretive rule to provide guidance to government agencies distributing aid to consumers in response to the COVID-19 pandemic. The Bureau concludes in this interpretive rule that certain pandemic-relief payments are not "government benefits" for purposes of Regulation E and the Electronic Fund Transfer Act (EFTA) and are therefore not subject to the compulsory use prohibition in EFTA, if certain conditions are met. Specifically, government benefits do not include payments from Federal, State, or local governments if those payments: Are made to provide assistance to consumers in response to the COVID-19 pandemic or its economic impacts; are not part of an already-established government benefit program; are made on a one-time or otherwise limited basis; and are distributed without a general requirement that consumers apply to the agency to receive funds.

This interpretive rule is effective on April 27, 2020. Kristine M. Andreassen, Senior Counsel, Office of Regulations, at 202-435-7700 or https:// reginquiries.consumerfinance.gov/. If you require this document in an alternative electronic format, please contact CFPB_Accessibility@cfpb.gov. CFPB_Accessibility@cfpb.gov https://reginquiries.consumerfinance.gov/ Vol. 85, no. 81 Office of the Federal Register, National Archives and Records Administration 2020-04-27 continuing daily deposited born digital 251 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2020-04-27 P0b002ee1a6d2ad1f 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr27ap20 https://www.govinfo.gov/app/details/FR-2020-04-27 https://www.govinfo.gov/content/pkg/FR-2020-04-27/pdf/FR-2020-04-27.pdf https://www.govinfo.gov/content/pkg/FR-2020-04-27/xml/FR-2020-04-27.xml fdlp 23205 23444 DGPO 2020-04-25 2024-05-30 FR-2020-04-27 machine generated eng FR FR-2020-04-27 85 81