C.F.R. » Title 12 » CHAPTER X—CONSUMER FINANCIAL PROTECTION BUREAU › PART 1005—ELECTRONIC FUND TRANSFERS (REGULATION E) › Subpart A—General

12 C.F.R. § 1005.13

Administrative enforcement; record retention

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(a) Enforcement by Federal agencies. Compliance with this part is enforced in accordance with section 918 of the Act.

(b) Record retention. (1) Any person subject to the Act and this part shall retain evidence of compliance with the requirements imposed by the Act and this part for a period of not less than two years from the date disclosures are required to be made or action is required to be taken.

(2) Any person subject to the Act and this part having actual notice that it is the subject of an investigation or an enforcement proceeding by its enforcement agency, or having been served with notice of an action filed under sections 910, 916, or 917(a) of the Act, shall retain the records that pertain to the investigation, action, or proceeding until final disposition of the matter unless an earlier time is allowed by court or agency order.

Notes of Decisions
Cited in 1 case (1 in the last 5 years), 2024–2024 · leading case: Virginia is for Movers, LLC v. Apple Fed. Credit Union (E.D. Va. 2024).
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Virginia is for Movers, LLC v. Apple Fed. Credit Union (E.D. Va. 2024). “12 C.F.R. § 1005.13 (a). And Apple, noting that the CFPB did not rely on Section 916 when it promulgated Regulation E, insists that “the CFPB did not intend to create a private right of action for violations of Regulation E” because “it would have explicitly done so” had it so…”
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