The Consumer Financial Protection Bureau (CFPB) is seeking public comments on their request to extend the existing information collection related to the Electronic Fund Transfer Act (Regulation E). This rule ensures that consumers receive clear information about electronic fund transfers and their rights. People have until May 9, 2025, to share their opinions. This effort is meant to evaluate whether the information collection is necessary and how it can be improved while minimizing the burden on respondents.
Simple Explanation
The Consumer Financial Protection Bureau (CFPB) wants to hear what people think about a rule that helps explain how money moves electronically from one bank to another, like when someone buys something with a card. They're especially interested in finding ways to make this rule better and see if it's still needed.