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.
Browsing: Prepaid cards
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.
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.
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.
The Consumer Financial Protection Bureau today finalized changes to its final rule on prepaid products, including an overall delay of the rule’s effective date until April 1, 2019.