Consumer complaint received 2015-12-02
Product: Bank account or service — Checking account
Issue: Account opening, closing, or management — 
Company: BBVA FINANCIAL CORPORATION (FL)

I was charged XXXX {$38.00} fees within the last 30 days without any explanation furthermore this is the second time they have violated consumer protection law as well as the Consumer Financial Protection Bureau XXXX They have charged these charges without any indication as to what they are for and this is the second instance that this bank has violated : The Electronic Fund Transfer Act ( EFTA ) ( 15 U.S.C. 1693 et seq. ) of XX/XX/XXXX is intended to protect individual consumers engaging in electronic fund transfers ( EFTs ) and remittance transfers. These services include transfers through automated teller machines ( ATMs ) ; point-of-sale ( POS ) terminals ; automated clearinghouse ( ACH ) systems ; telephone bill-payment plans in which periodic or recurring transfers are contemplated ; remote banking programs ; and remittance transfers. 
The EFTA is implemented through Regulation E, which includes official interpretations. 
In XX/XX/XXXX, the Federal Reserve Board ( Board ) amended Regulation E to prohibit institutions from charging overdraft fees for ATM and one-time debit card transactions, unless the consumer opts in or affirmatively consents to the institution 's overdraft services ( 74 Fed. Reg. 59033 ( XX/XX/XXXX ) and 75 Fed. Reg. 31665 ( XX/XX/XXXX ) ). The Board also amended Regulation E to restrict fees and expiration dates on gift cards and to require that gift card terms be stated clearly ( 75 Fed. Reg. 16580 ( XXXX ) ) .1The DoddFrank Wall Street Reform and Con- sumer Protection Act ( DoddFrank Act ) transferred rulemaking authority under the EFTA from the Board of Governors of the Federal Reserve System to the Consumer Financial Protection Bureau ( CFPB ) .2, 3 The DoddFrank Act also amended the EFTA and created a new system of consumer protections for remittance transfers sent by con- sumers in the United States to individuals and businesses in XXXX. In XX/XX/XXXX. The Board also implemented a legislative extension of time for complying with the gift card disclosure requirements until XX/XX/XXXX. 75 Fed. Reg. 50683 ( XX/XX/XXXX ). 
2. DoddFrank Act 1002 ( 12 ) ( C ), 1024 ( b ) - ( c ), and 1025 ( b ) - ( c ) ; 12 U.S.C. 5481 ( 12 ) ( C ), 5514 ( b ) - ( c ), and 5515 ( b ) - ( c ). Section 1029 of the XXXX XXXX generally excludes from this transfer of authority, subject to certain exceptions, any rulemaking authority over a motor vehicle dealer that is predominantly engaged in the sale and servicing of motor vehicles, the leasing and servicing of motor vehicles, or both. The transfer of authority also did not include section 920 of EFTA, which concerns debit card interchange fees charged to merchants. Section 920 of EFTA is implemented by Board regulations at 12 CFR Part 235. Section 920 is not addressed here or in the accompanying examination procedures and checklist. 
3. The agency responsible for supervising and enforcing compliance with Regulation E will depend on the person subject to the EFTA ( e.g., for financial institutions, jurisdiction will depend on the size and charter of the institution ). 
XX/XX/XXXX, the CFPB restated the Board 's implementing Regulation E at 12 CFR Part 1005 ( 76 Fed. Reg. 81020 ) ( XX/XX/XXXX ). XX/XX/XXXX, the CFPB added subpart B ( Requirements for Remit- tance Transfers ) to Regulation E to implement the new remittance protections set forth in the Dodd Frank Act ( 77 Fed . Reg. 6194 ) ( XX/XX/XXXX ), effective on XX/XX/XXXX.4 XX/XX/XXXX, the CFPB amended the XX/XX/XXXX rule to effect certain technical corrections primarily related to formatting of the model forms in the rule. XX/XX/XXXX, the CFPB again amended the XX/XX/XXXX rule to modify the definition of ''remittance transfer provider. '' The XX/XX/XXXX amendment also revised several aspects of the rule regarding remittance transfers that are scheduled before the date of transfer, including preauthorized r