In a new blog post, the CFPB highlighted its resources available to help financial institutions serve their Spanish-speaking customers.
Browsing: Prepaid cards
The CFPB today released a compliance bulletin reiterating that the Electronic Fund Transfer Act and its implementing regulation, Regulation E, apply to government benefits accounts with the exception of state and local electronic benefit transfer programs.
Business conditions were most often called the single biggest challenge facing community banks, according to an annual survey released yesterday by the Conference of State Bank Supervisors.
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.
To help banks focus on responding to their customers’ needs during the coronavirus pandemic, the Consumer Financial Protection Bureau today announced it will postpone certain data collections for CFPB-related rules.
Smaller debit card issuers—those covered by the Durbin amendment’s routing provision but not its interchange fee cap—continued to see a decline in debit interchange revenue, according to the Federal Reserve’s biennial survey of debit card issuers’ economics released today.
Ahead of the effective date of its prepaid rule, the Consumer Financial Protection Bureau today unveiled a new electronic submission system — Collect — that prepaid account issuers may use to submit their account agreements to the bureau.
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
Noncash payments in the U.S. continued to see strong growth in the period between 2016 and 2017, according to an annual supplement to the Federal Reserve’s triennial payments study released today.