Despite industry concerns — and a potential congressional challenge — the new CFPB prepaid card regulations looked full steam ahead to go into effect on schedule next year. But as of last week, it looked like the consumer group was having some second thoughts. Now...
The Consumer Financial Protection Bureau’s (CFPB) rulemaking authority survived its first big challenge from the now Republican-dominated houses of Congress when an effort to use the Congressional Review Act (CRA) to repeal new rules for the prepaid card industry passed by the consumer watchdog in...
June 20, 2017
Despite industry concerns — and a potential congressional challenge — the new CFPB prepaid card regulations looked full steam ahead to go into effect on schedule next year. But as of last week, it looked like the consumer group was having some second thoughts. Now it is taking input on how it can update those rules.
June 20, 2017
Prepaid card rules have been under fire ever since the Consumer Financial Protection Bureau (CFPB) put out its new regulations back in October 2016. The new CFPB prepaid card rules wanted to treat prepaid cards the same as credit cards but received pushback since marketing efforts say their essential function is like that of debit cards. As […]
May 16, 2017
The Consumer Financial Protection Bureau’s (CFPB) rulemaking authority survived its first big challenge from the now Republican-dominated houses of Congress when an effort to use the Congressional Review Act (CRA)...
