CFPB Hits Pause on Fancy Payment Rules: Business as Usual
Published Date: 5/15/2025
Proposed Rule
Summary
The Consumer Financial Protection Bureau has decided to stop working on a proposed rule about electronic fund transfers for personal accounts using new payment methods. This means no new changes or rules will happen right now, so people and businesses can keep things as they are. If you were watching for updates or new fees, nothing’s changing for now!
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
CFPB Withdraws Proposed EFT Rule
The Consumer Financial Protection Bureau has withdrawn its proposed interpretive rule on electronic fund transfers through personal accounts using emerging payment mechanisms and will not take further action. That means current rules stay in place and there are no new regulatory changes right now for people or businesses using those payment methods.
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Key Dates
Department and Agencies
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