Preparing for the Impact of New Prepaid Card Rules Under Regulation E: Deadline April 1, 2018
Tuesday, October 31, 2017
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
New comprehensive protections have been added to Regulation E!
Are you ready for the April 1, 2018, effective date? In October 2016, the CFPB issued its final rule creating new consumer protections for prepaid accounts and cards. This rule was initially scheduled to become effective on October 1, 2017, but the CFPB extended the effective date to April 1, 2018.
New comprehensive protections have been added to Regulation E, making it applicable to government benefit accounts, payroll card accounts, and other types of prepaid products. In general, prepaid cards and their mobile, electronic versions will receive the same protection from fraud and unauthorized charges under Regulation E 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 changes that become effective April 1, 2018.
Continuing Education: Attendance verification for CE credits upon request
- Which accounts and cards are covered under the new rule?
- Pre-acquisition disclosures
- Changes required for periodic statements
- Changes in error resolution and limitations on liability
- Applicability of Regulation Z to hybrid prepaid credit cards
- TAKE-AWAY TOOLKIT
- CFPB's Prepaid Rule Small Entity Compliance Guide (January 31, 2017)
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session will be useful to all deposit personnel, tellers, service representatives, new accounts personnel, new product staff, account officers, managers, auditors, and compliance staff.
PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.