Event Details
Event Name: | Prepaid Accounts under the Electronic Fund Transfer Act/Regulation E and the Truth In Lending Act/Regulation Z (Date Extended) |
Date: | April 1, 2019 |
Start Time: | All Day Event |
Duration: | 1 day |
Description: | Update: Extension of Prepaid Accounts rule The Consumer Financial Protection Bureau (CFPB) previously announced a final rule delaying by six months the general effective date of the CFPB rule governing prepaid accounts. The rule was to take effect on April 1, 2018. However, on January 25, 2018, the CFPB announced changes to its 2016 Prepaid Accounts Rule (Final Rule). The changes include extending the overall effective date of the rule to April 1, 2019. Previous Description Prepaid Accounts under the Electronic Fund Transfer Act/Regulation E and the Truth In Lending Act/Regulation Z (CFPB): The prepaid rule generally applies to prepaid accounts starting Oct. 1, 2017, though the requirement for submitting agreements to the CFPB takes effect in October 2018. The final rule includes other accommodations in certain situations. For more information visit the CFPB’s implementation page on the prepaid rule, here. |