MoFo ReEnforcement: The Enforcement Blog
CFPB Finalizes Sweeping Prepaid Account Rule
By Rick Fischer, Obrea Poindexter, Jeremy Mandell, Trevor Salter, Crystal Kaldjob
On October 5, 2016, the CFPB issued its long-awaited final rule to further regulate prepaid card products, or “prepaid accounts” (the “Final Rule” or “Rule”). This alert identifies key provisions of the Final Rule addressing scope, disclosures, error resolution and liability, and provisions regarding so-called “hybrid credit-prepaid cards.” The Rule generally takes effect on October 1, 2017.
Read our client alert.
Originally published at moforeenforcement.com
Citation
Rick Fischer, Obrea Poindexter, Jeremy Mandell, Trevor Salter, Crystal Kaldjob, CFPB Finalizes Sweeping Prepaid Account Rule, MoFo ReEnforcement: The Enforcement Blog (October 7, 2016) [The Library at LexBlog, LEX-WK-M6BG4GRR, lexpid.org/M6BG4GRR]
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