United States:
CFPB Amends Prepaid Accounts Rule And Delays Its Effective Date
30 January 2018
Morrison & Foerster LLP
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On January 25, 2018, the CFPB 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.
Read our
client alert.
Because of the generality of this update, the information
provided herein may not be applicable in all situations and should
not be acted upon without specific legal advice based on particular
situations.
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