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.
- Which accounts and cards are
covered by the new rules?
- Pre-acquisition disclosures
changes for periodic statements
- Changes in error resolution and liability
limitations under Reg E
- Applicability of Reg Z to hybrid prepaid credit
Elizabeth Fast, JD, CPA, Spencer Fane, LLP
Live and recorded webinar, handouts, quiz with answer key and training log are included.