The Consumer Financial Protection Bureau’s final rule on prepaid accounts has survived the deadline for repeal via the Congressional Review Act.
Rep. Roger Williams (R-Texas) introduced a bill to repeal the prepaid card rule in February, with expressed support from Rep. Jeb Hensarling (R-Texas) and on the Senate side from Sen. David Perdue (R-Ga.).
Read on to learn more about the state of the rule and how the CRA process was used to affect the bureau.