With the April 1 effective date approaching for its prepaid accounts rule, the Consumer Financial Protection Bureau (CFPB) launched an electronic system for prepaid issuers to submit account agreements they currently offer by the rule’s deadline.
Along with the submission system’s launch, the bureau released various compliance materials for prepaid issuers, including a user guide, a quick reference guide, FAQs and a recorded webinar.
Find out more details about the new submission system and associated requirements.