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.
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