Browsing: Prepaid cards

Compliance and Risk

To help facilitate the timely, efficient and secure disbursement of the Treasury Department’s economic impact payments, the Consumer Financial Protection Bureau issued an interpretive rule—which takes effect upon publication in the Federal Register—stating that, if certain conditions are met, certain government pandemic relief payments are not considered “government benefits” for the purposes of the Electronic Funds Transfer Act and Regulation E.

Newsbytes

In a comment letter filed before the holidays, ABA voiced support for the FDIC’s National Survey of Unbanked and Underbanked Households and offered recommendations for ways the survey questions could be improved in 2019. Specifically, ABA agreed with the FDIC’s inclusion of prepaid cards in a survey question about consumers’ experiences with bank accounts, noting

Newsbytes

Credit cards and prepaid cards increased their share of payment instruments that households use in a typical month, according to results from the Federal Reserve Bank of Boston’s 2016 and 2017 Surveys of Consumer Payment Choice released today.

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