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|Event Name:||CFPB on Prepaid: Impacts to You and Your Customers - 2-Part Webinar Series|
|Date:||Thursday, February 9, 2017 1:00pm CST|
|Panelist(s) Info:||Kathy Tomasofsky Partner Two Sparrows Consulting, Eli Rosenberg Banking Associate BairdHolm Attorneys at Law (Bio)Array|
|Credits:||2.4 AAP Credits, 2.0 CPE Credits|
This is is a two part webinar with events Thursday February 9 and Friday February 10, 2017 at 1:00 pm CT.
The Consumer Financial Protection Bureau (CFPB) finalized their regulations regarding prepaid cards in October, 2016. Beginning in October, 2017 prepaid debit card users will have strong federal consumer protections. The new rule requires financial institutions to limit consumers’ losses when funds are stolen or cards are lost, investigate and resolve errors, and give consumers free and easy access to account information. The Bureau also finalized new “Know Before You Owe” disclosures for prepaid accounts to give consumers clear, upfront information about fees and other key details. Be sure that you understand the regulation and how it may apply as you prepare for the October implementation. Join us as we help you navigate the key components of the new 1,689 page rule in this two-part series.
Part One: Products Impacted by New Requirements
The first part of this series will review the products covered by the regulation and the criteria used to determine coverage. Also very important to understand is the information that must be disclosed to the consumer – at time of purchase whether in a store, branch office, on-line or via phone and finally we will discuss Reg E protection requirements.
Part Two: Regulation Z and More
On the second day, we will present the transaction history requirements and provide a deep-dive into the requirements for over-draft coverage and the conditions under which Reg Z requirements must be followed. The webinar will finish with implementation effective date requirements.