12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
After several postponements, the new prepaid card rules under Regulations E and Z become effective on April 1, 2019. The prepaid-card issuer generally has the primary compliance obligation, but your institution still needs to understand the new rules if you sell prepaid cards and accounts. New protections have been added to Regulation E, making it applicable to government benefit accounts, payroll card accounts, and other prepaid products. Under Regulation E, prepaid cards and their mobile electronic versions will generally receive the same protection from fraud and unauthorized charges as traditional debit and ATM cards. In addition, there are special rules regarding pre-acquisition disclosures, fee schedules, and periodic statements for prepaid cards. This webinar will explain the new prepaid card rules and how they will affect your institution.
Continuing Education: Attendance verification for CE credits upon request
- Which accounts and cards are covered by the new rules?
- Pre-acquisition disclosures
- Required changes for periodic statements
- Changes in error resolution and liability limitations under Reg E
- Applicability of Reg Z to hybrid prepaid credit cards
- TAKE-AWAY TOOLKIT
- CFPB’s Prepaid Rule Small Entity Compliance Guide
- Executive Summary of the 2018 Prepaid Amendments
- Prepaid Account Coverage Chart
- Employee training log
- Quiz to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session will benefit deposit personnel, tellers, service representatives, new accounts personnel, new product staff, account officers, managers, auditors, attorneys, and compliance staff.
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.