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CFPB Pushes Prepaid Card Rule Implementation Back A Year

PYMNTS

The Consumer Financial Protection Bureau (CFPB) has extended the effective date on its 2016 prepaid card rule, among other modifications announced today (Jan. The rule change has drawn some early praise from industry sources.

CFPB 52
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An Overview of Payment Regulation In The USA

Clearly Payments

Through transparent disclosures, dispute resolution mechanisms, and limits on consumer liability, regulations shield consumers from deceptive practices and ensure their financial well-being. They establish rules, standards, and fees for participating financial institutions and merchants.