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CFPB Gathers Comments in Advance of Potential Regulation of General Use Prepaid Reloadable Cards

Excerpt: The Consumer Financial Protection Bureau has begun the process of issuing new rules to govern the booming, multi-billion dollar market in certain reloadable debit cards. On May 24, 2012, the Bureau issued an Advanced Notice of Proposed Rule-making (the "Advanced Notice") to...

CFPB Issues New Proposed Rules for Prepaid Debit Cards

by H. Scott Kelly and Michael E. Lacy On November 13, the Consumer Financial Protection Bureau unveiled a comprehensive slate of consumer protections for prepaid debit cards that could increase the customer base for the financial product. The proposed rules (found here ) are the most comprehensive...

CFPB Proposes New Rules Regulating Prepaid Cards

by Elisa J. Lintemuth The Consumer Financial Protection Bureau has proposed new rules to amend Regulation E (Electronic Fund Transfer Act) and Regulation Z (Truth in Lending Act) to create protections for consumers using prepaid cards. These proposed rules come as more and more people are using prepaid...