ETA Applauds CFPB for Paving the Way for Consumers to Receive Stimulus Funds Electronically

WASHINGTON, D.C. – April 13, 2020 – The Electronic Transactions Association (ETA), the global trade association for the payments technology industry, applauds the Consumer Financial Protection Bureau (CFPB) for its Interpretive Rule which makes it easier for consumers to quickly and safely receive CARES Act stimulus funds. The Rule waives a requirement that consumers be offered paper checks and allows consumers to receive their stimulus money in electronic form, such as through a prepaid card or mobile wallet.

“Electronic payments are the most effective way to deliver stimulus money safely, securely and quickly to consumers,” said Jodie Kelley, CEO, ETA. “We appreciate the CFPB making it easier for consumers to receive their stimulus funds electronically.”

About ETA
The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $21 trillion in purchases worldwide and deploying payments innovation to merchants and consumers.

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