All Categories
    Filters
    Preferences
    Search
    RSS

    Blog

    Is Your Institution in Compliance With the New Prepaid Accounts Rule?
    Is Your Institution in Compliance With the New Prepaid Accounts Rule?

    By: Carly Souther

    FREE iDownloadPrepaid Account Coverage Chart

    Last October, the Consumer Financial Protection Bureau (Bureau) issued a final rule for prepaid financial products. Adopting a Q&A format, this post will help you gain a better understanding of the scope and purpose of the Prepaid Rule. You'll learn the types of accounts that are defined as prepaid accounts under Regulation E (as well as the types of accounts that are not subject to Reg E).

    To ensure your Institution is in compliance with the Rule by the effective date, register for our upcoming webinar, "Prepaid Cards: What the NEW Rules Mean for You!"

    Your Weekly Financial e-Update: CFPB Expands UDAAP, GOP to Repeal Prepaid-Card Rule, & More!

    By: Carly Souther 

    Carly Souther

     

    CFPB Expands Scope of UDAAP 

    The Consumer Financial Protection Bureau (CFPB) ordered Mastercard and UniRush to pay $13 million for breakdowns related to prepaid-cards that resulted in tens of thousands of consumers without access to their money. The CFPB claims consumers were given inaccurate account information and were not provided with adequate customer service after the breakdowns. The order says the companies engaged in "unfair acts or practices" by failing to cond...