Proposed Amendments to Prepaid Accounts Rules under Reg E and Reg Z

The CFPB is proposing to amend Reg E (Electronic Fund Transfer Act) and Reg Z (Truth in Lending Act) and related guidance. This proposal relates to the prepaid accounts final rule adopted in November 2016.

This proposal requests comment on potential modifications to several aspects of that rule, including error resolution and limitations on liability for prepaid accounts where the financial institution has not completed its consumer identification and verification process; application of the rule's credit-related provisions to digital wallets that are capable of storing funds; certain other clarifications and minor adjustments; and two issues relating to
the effective date of the rule.

Comment to CUNA Staff Provide feedback here
CUNA Comment Letter 08/11/2017
Agency/Entity Consumer Financial Protection Bureau
Agency Comment Deadline 08/14/2017
Docket/Identifying #

CFPB-2017-0015

CUNA Contact

Luke Martone