The Consumer Financial Protection Bureau (CFPB) has finalized revisions to its 2016 final rule governing prepaid accounts. The updates pertain to error resolution requirements, digital wallets and the rule’s effective date.
The finalized revisions reflect some of the changes the CFPB proposed in June 2017, but also differ in some ways. It also addresses issues raised during the public comment period that followed publication of the proposal, but not all.
Find out more details about how the finalized changes will impact covered entities.