The Consumer Financial Protection Bureau (CFPB) proposed a six-month delay of its prepaid accounts rule’s effective date, putting the rule’s future in jeopardy as congressional Republicans already have expressed support for its repeal.
The delay would push the effective date of the rule to April 1, 2018. Rep. Roger Williams (R-Texas) introduced a bill to repeal the CFPB’s final rule, which was published Nov. 22, 2016, in the Federal Register, via the Congressional Review Act.