The window of opportunity has closed for legislative efforts to prevent new consumer protections from going into effect. [More]
Prepaid card rules
As Congress Preps To Scrap Prepaid Card Protections, Lawsuit Seeks Release Of Emails Between Lawmakers & Lobbyists
By 4.18.17 — Updated: 5.9.17
At some point in the coming weeks, Congress is set to consider a fast-tracked proposal that would nullify a slew of new protections for the millions of Americans who use prepaid debit cards. With the clock ticking down to that vote, a lawsuit is trying to compel the release of any communications about these rules between industry lobbyists, lawmakers, and federal regulators. [More]
18 States Urge Congress Not To Stop Prepaid Card Reforms
By 4.5.17 — Updated: 5.10.17
Earlier this year, lawmakers on Capitol Hill began the process of dismantling the Consumer Financial Protection Bureau’s long-awaited prepaid card rules — meant to improve transparency and curb runaway fees — that are set to to go into effect. As Congress prepares to consider three bills that would erase these rules, attorneys general from 18 states have called on legislators to put consumers’ needs over those of the prepaid card industry. [More]
Congress Trying To Roll Back Consumer Protections For Prepaid Cards
By 2.3.17
Last fall, weeks before the election, the Consumer Financial Protection Bureau concluded a three-year process of trying to make prepaid cards less costly. Those new rules, which would improve transparency and curb runaway fees, are set to go into effect later this year, but not if lawmakers on Capitol Hill have their say. [More]
