Latest Power of Prepaid Podcast Recaps The CFPB Prepaid Saga
February 20, 2018
For nearly six years, the prepaid industry faced uncertainty as the Consumer Financial Protection Bureau (CFPB) developed and revised the prepaid accounts final rule. Then, last month, the CFPB announced it would delay the implementation date for the prepaid accounts rule to April 2019, giving the industry a crucial extra year to comply. With the longer implementation timeline, there is now more time to make sure the changes to the Final Rule are implemented in a thoughtful manner that benefits consumers by causing as little disruption as possible.
On the latest episode of the Power of Prepaid Podcast, NBPCA CEO, Brian Tate, joins host and NBPCA COO, Ben Jackson, to discuss what this delay means for the prepaid industry and future regulations. Additionally, Tate explains the NBPCA’s role in advocating on behalf of the prepaid industry to the CFPB, as well as the actions the association is planning to take during the next 12 months to help NBPCA members help comply with the final rule to ensure uninterrupted consumer access to high-quality, innovative prepaid products and services are protected.
You can listen to the Power of Prepaid Podcast here—or wherever you listen to your podcasts, including iTunes, Soundcloud, and Google Play.