Search Results for keywords:"consumer rights"

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Search Results: keywords:"consumer rights"

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  • 2025-00565 — Electronic Fund Transfers Through Accounts Established Primarily for Personal, Family, or Household Purposes Using Emerging Payment Mechanisms
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    Type:Proposed Rule
    Citation:90 FR 3723
    Reading Time:about 31 minutes

    The Consumer Financial Protection Bureau (CFPB) is proposing a new interpretive rule to help companies and investors understand existing rules around electronic fund transfers (EFTs) as people use new ways to transfer money for personal purposes. This rule stems from growing interest in products like stablecoins and virtual currencies, which are gaining use in non-traditional payment systems. The goal is to ensure consumer rights and liabilities under the Electronic Fund Transfer Act (EFTA) are clear and consistently applied, preventing confusion and competitive disadvantages among service providers. They seek public feedback on this proposal by March 31, 2025.

    Simple Explanation

    The Consumer Financial Protection Bureau wants to make sure that everyone understands how new ways to send money, like fancy internet coins, should follow the rules that keep people's money safe. They are asking people what they think about these ideas before they make any new rules.

  • 2020-28422 — Debt Collection Practices (Regulation F)
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    Type:Rule
    Citation:86 FR 5766
    Reading Time:about 9 hours

    The Bureau of Consumer Financial Protection issued a final rule revising Regulation F, which enforces the Fair Debt Collection Practices Act (FDCPA). This rule requires debt collectors to provide clear information to consumers at the start of collection efforts and prohibits legal action on outdated debts. It also establishes guidelines for reporting debts to consumer agencies only after contacting the consumer. The rule aims to protect consumer rights and prevent abusive debt collection practices.

    Simple Explanation

    The new rules make sure people who collect debts have to explain things clearly and can't sue someone for old debts. They also have to let people know before telling others about their debts.