The CFPB has announced the release of “eRegulations,” which it describes as “a web-based, open source tool that aims to make regulations easier to find, read, and understand.” According to the CFPB, the tool “lets users identify and display definitions for specific terms within regulation text, move easily among past, present and future versions of a regulation, and smoothly navigate between regulation text, official interpretations, appendices, and certain section-by-section analyses contained within Federal Register notices.”
Having timed the announcement of the tool’s release to coincide with the release of new remittance transfers examination procedures, the CFPB selected Regulation E as the first regulation to be included in the tool. Visitors to the webpage will also see links to additional resources such as related “Ask CFPB” questions and answers and the CFPB’s small entity compliance guide for the remittance transfers rule.
The CFPB describes the tool “as a work in progress” (which it clearly seems to be given the difficulty we encountered in attempting to move between the table of contents and the text of the regulation) and has invited feedback. The CFPB’s blog post about the tool includes “a note from our lawyers” that cautions the tool “is not an official legal edition of the Code of Federal Regulations or the Federal Register, and it does not replace the official versions of those publications.”