Client Alert

CFPB Amends Prepaid Accounts Rule and Delays its Effective Date

29 Jan 2018

On January 25, 2018, the Consumer Financial Protection Bureau finalized amendments to its final Prepaid Accounts Rule, which was published in November 2016. The Bureau stated that the 2018 Amendments finalize revisions proposed in June 2017 “generally as proposed, with certain modifications.” The 2018 Amendments address some of the issues raised by industry and delay the effective date for all provisions of the Final Rule until April 1, 2019.

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