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CFPB to Delay Implementation of Prepaid Rule

Fri, Dec 22, 2017

The Consumer Financial Protection Bureau (CFPB) has announced that it will delay implementation of its prepaid rule and will consider new changes to the regulation before it goes into effect. Here is the statement released by the CFPB:

"The Bureau expects to issue a final rule amending certain aspects of its 2016 rule governing prepaid accounts soon after the new year. As part of that process, the Bureau expects, based on its review of the comments received, to further extend the effective date of the 2016 rule to allow additional time for implementation of the final rule. The Bureau proposed making changes to the prepaid rule in June; the comment period on the proposal ended in August, and the record is now closed for public input."