20-EF-05 - CFPB - Treatment of Pandemic Relief Payments Under Regulation E and Application of the Compulsory Use Prohibition

On April 13, 2020, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an interpretive rule to clarify that, for the purposes of the Electronic Fund Transfer Act (EFTA) and Regulation E, government benefits do not include COVID-19 related assistance or economic impact payments, such as those established under the Coronavirus Aid, Relief and Economic Security Act (CARES Act).

Already a member? Log in

NAFCU Members Get More

This page contains member-only content.

Membership is open to all federally insured credit unions in the United States, both federally and state-chartered. Members enjoy:

  • Hundreds of articles and resources
  • Personalized compliance assistance
  • Discounts on top-rated education opportunities
  • Member-only benefits and savings

Interested? Schedule a Customized Membership Webinar

If you are already logged in and believe you should have access to member-only content, please contact us for assistance at info@nafcu.org.