CFPB Issues ANPR On Prepaid Cards
Friday, 25 May 2012 08:57

The Bureau of Consumer Financial Protection (CFPB) has issued an Advance Notice of Proposed Rulemaking seeking comments from the financial industry and the public about prepaid debit cards.  In its announcement, the CFPB notes that the federal rules that protect consumers which apply to debit cards that access accounts do not apply to prepaid cards.  The CFPB is seeking comments about the costs, benefits and risks of these types of cards so it can determine if Regulation E should be amended.  Read the CFPB public announcement and access the ANPR.

 

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