On the 25th of January, the the Consumer Financial Protection Bureau (CFPB) issued a final rule amending the rules governing Prepaid Accounts under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z).
The 2016 prepaid rule set new requirements for lost or stolen cards, the error resolution process, disclosures, access to account information, and overdraft features. Most institutions have been working diligently to understand and implement those changes before the effective date. The 2018 updates adjust error resolution processes on unregistered accounts, address credit cards linked to digital wallets, and extends the effective date of the rule by one year to April 2019. Now is the time to start understanding what the rules require and how these rules will affect your day-to-day operations.
This session will explore the final rule and what your institution is required to do to comply with them. The discussion will include the CFPB's January 25th, 2018 updates to the rules.
- What does the new rule require?
- What does the new "Know Before You Owe" disclosure look like?
- What new credit protections are applicable to our customers?
- What new fraud protections are in place?
- When are the new rules effective?
- How can I implement the new rules?
- And much, much more . . .
Who Should Attend?
This informative session is designed for Compliance Officers and Staff, Risk Managers and Staff, Operations Managers and Staff, Retail Managers, Customer Service Managers and Staff, Legal Managers and Staff, Internal Audit Managers and Staff.