CFPB finalizes changes to the Prepaid Account Rule and further delays effective date

On January 25, the CFPB finalized certain changes to the original Final Prepaid Rule (the "Rule") proposed last summer.  The amended Rule still contains onerous restrictions on credit features and complicated disclosure requirements, but the changes are generally positive for prepaid providers and incorporate feedback from industry representatives.  Importantly, due to concerns about implementation difficulties,... Continue Reading…...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web http://ift.tt/2nelgnu
via IFTTT