The Prepaid Rule: Issuers and Sellers of Prepaid Access
Several credit unions have had some questions about the CFPB's recent prepaid account rule, specifically as it applies to smaller institutions. For issuers of prepaid cards, there is no asset size threshold requirement, but there are some nuances you'll want to read up on. Institutions who only sell prepaid cards are not required to liable for complying with the rule, but you'll still want to make sure you're familiar with the rule. [2/1/17]
