Prepaid Card Compliance Update: Ensuring Compliance with the CFPB Final Prepaid Accounts Rule, and Other Key Federal and State Compliance Initiatives
What is it about?
- Assessing how the prepaid card industry is preparing for compliance with the CFPB’s Final Prepaid Account Rule
- Identifying the real industry challenges and pain points from a compliance and business standpoint?
- How are companies addressing them?
- Examining the changes in required disclosures
- Understanding how the New Rule may change the products being offered on the market
- Addressing the impact of the CFPB Rule’s reach beyond what is traditionally been thought of as prepaid accounts
- Understanding what the implications are for providers who (i) currently offer overdraft, (ii) currently offer credit, (iii) are thinking about offering credit
- Analyzing other recent federal and state regulatory and enforcement initiatives in the prepaid space
- Exploring the interplay amongst prepaid cards, emerging payment systems, and FinTech
- New opportunities
- Overcoming complicated regulatory and compliance challenges