Compliance Overview: Regulation E

With online banking and pay portals on the rise, collection agencies need to protect themselves from violations of the Electronic Fund Transfer Act (EFTA). Regulation E, the set of rules enforcing EFTA, is one of the growing compliance concerns for debt collectors. There’s already a lot of guidance about how banks and other financial institutions are supposed to comply, while the collection industry seems to be left behind.

Not anymore! Our Compliance Overview: Regulation E report highlights the unique ways in which Regulation E impacts debt collectors.

This report is the first of its kind to provide real-world tools for the debt collection industry to comply with Regulation E. Follow our compliance checklist (pg. 9) to see how your policies hold up against federal scrutiny. Use our terms and conditions template (pg. 21) as a foundation for language that’s compliant and consumer-friendly. Learn how the Consumer Financial Protection Bureau’s new rule on foreign remittance transfers changes disclosure requirements (pg. 18).

Product: PDF Download

Pages: 93 pp

Published: October 2013

You’ll learn:

• Who is affected by Regulation E
  
• Best practices for compliance and disclosures
  
• Top industry violations, and how to avoid them
  
• Consumer liability for unauthorized transfers