CFPB Issues Prepaid Account NPRM: Converging Prepaid into Bank Regulation Mainstream
My original intent, based on attending the field hearing in Wilmington, Del., this morning, was to summarize the key elements for publication today. But, that won’t happen. The 870 pages that comprise the NPRM suggest why it took the CFPB extra time to create and why it will take industry time to understand everything the NPRM covers and, of course, the implications of the proposed rules.