```

[Federal Register Volume 77, Number 132 (Tuesday, July 10, 2012)]
[Rules and Regulations]
[Pages 40459-40478]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-16245]

========================================================================
Rules and Regulations
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains regulatory documents 
having general applicability and legal effect, most of which are keyed 
to and codified in the Code of Federal Regulations, which is published 
under 50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by the Superintendent of Documents. 
Prices of new books are listed in the first FEDERAL REGISTER issue of each 
week.

========================================================================


Federal Register / Vol. 77, No. 132 / Tuesday, July 10, 2012 / Rules 
and Regulations

[[Page 40459]]

BUREAU OF CONSUMER FINANCIAL PROTECTION

12 CFR Part 1005

[Docket No. CFPB-2011-0009]
RIN 3170-AA15

Electronic Fund Transfers (Regulation E); Correction

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Final rule; official interpretation; correction.

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

SUMMARY: The Bureau of Consumer Financial Protection (Bureau) is 
correcting a final rule with an official interpretation (Final Rule) 
that appeared in the Federal Register of February 7, 2012. The Final 
Rule provides new protections, including disclosures and error 
resolution and cancellation rights, to consumers who send remittance 
transfers to other consumers or businesses in a foreign country. The 
Final Rule inadvertently did not reflect certain technical and 
conforming changes made by the interim final rule published on December 
27, 2011. The Final Rule also contained a technical error in the 
formatting of certain model forms. This document corrects the error and 
the formatting of the model forms.

DATES: These corrections are effective February 7, 2013.

FOR FURTHER INFORMATION CONTACT: Stephen Shin or Krista Ayoub, Senior 
Counsels, Division of Research, Markets, and Regulations, Bureau of 
Consumer Financial Protection, 1700 G Street NW., Washington, DC 20552, 
at (202) 435-7000.

SUPPLEMENTARY INFORMATION:

I. Overview

    On Tuesday, February 7, 2012, the Bureau published the Final Rule 
(77 FR 6194), which implements the Electronic Fund Transfer Act, and 
the official interpretation to the regulation, which interprets the 
requirements of Regulation E. The Final Rule provides new protections, 
including disclosures and error resolution and cancellation rights, to 
consumers who send remittance transfers to other consumers or 
businesses in a foreign country. The amendments implement statutory 
requirements set forth in the Dodd-Frank Wall Street Reform and 
Consumer Protection Act.
    The Final Rule inadvertently did not reflect certain technical and 
conforming changes made to Sec.  1005.3(a) in the interim final rule 
published on December 27, 2011 (76 FR 81020). The interim final rule 
substantially duplicated the Board of Governors of the Federal Reserve 
System's Regulation E, and made only certain non-substantive, 
technical, and stylistic changes necessary to reflect the transfer of 
authority to the Bureau. This correction will remove the amendment the 
Final Rule made to Sec.  1005.3(a) of the interim final rule.
    The Final Rule also contained a technical error in the formatting 
of certain model forms. Instead of each form being published on 
separate pages, certain forms were published in the standard three-
column format. To correct this error, this document republishes the 
model forms as full-page versions.

II. Basis for the Corrections

    The Bureau is publishing this technical correction as a final rule 
that will be effective on the same date as the Final Rule. The Bureau 
finds that there is good cause to publish this Final Rule without 
seeking public comment. See 5 U.S.C. 553(b)(B). Public comment is 
unnecessary because the rule corrects inadvertent, technical errors 
about which there is minimal, if any, basis for substantive 
disagreement. In addition, the Final Rule restores changes made to 
Sec.  1005.3(a) in the interim final rule, Electronic Fund Transfers 
(Regulation E), published on December 27, 2011 (76 FR 81020) for which 
the Bureau found good cause to conclude that providing notice and 
opportunity for comment would have been unnecessary and contrary to the 
public interest but for which the Bureau nevertheless requested public 
comment.
    In FR Doc. 2012-1728 appearing on page 6194 in the Federal Register 
on Tuesday, February 7, 2012, the following corrections are made:

0
1. On page 6285, in the second column, in Subpart A, Sec.  1005.3(a) is 
corrected to read as follows:

Sec.  1005.3  Coverage.

    (a) General. This part applies to any electronic fund transfer that 
authorizes a financial institution to debit or credit a consumer's 
account. Generally, this part applies to financial institutions. For 
purposes of Sec. Sec.  1005.3(b)(2) and (3), 1005.10(b), (d), and (e), 
1005.13, and 1005.20, this part applies to any person, other than a 
person excluded from coverage of this part by section 1029 of the 
Consumer Financial Protection Act of 2010, Title X of the Dodd-Frank 
Wall Street Reform and Consumer Protection Act, Pub. L. 111-203, 124 
Stat. 1376. The requirements of subpart B apply to remittance transfer 
providers.
* * * * *

0
2. On page 6290 through 6297, in Appendix A to Part 1005, Model Forms 
A-30 through A-41 are corrected to read as follows:

Appendix A to Part 1005--Model Disclosure Clauses and Forms

BILLING CODE 4810-AM-P

[[Page 40460]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.009

[[Page 40461]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.010

[[Page 40462]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.011

[[Page 40463]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.012

[[Page 40464]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.013

[[Page 40465]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.014

[[Page 40466]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.015

[[Page 40467]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.016

[[Page 40468]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.017

[[Page 40469]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.018

[[Page 40470]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.019

[[Page 40471]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.020

[[Page 40472]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.021

[[Page 40473]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.022

[[Page 40474]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.023

[[Page 40475]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.024

[[Page 40476]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.025

[[Page 40477]]

[GRAPHIC] [TIFF OMITTED] TR10JY12.026

[[Page 40478]]

    Dated: June 26, 2012.
Richard Cordray,
Director, Bureau of Consumer Financial Protection.
[FR Doc. 2012-16245 Filed 7-9-12; 8:45 am]
BILLING CODE 4810-AM-C
```