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CFPB RIN: 3170-AA22 Publication ID: Fall 2014 
Title: Requirements for Prepaid Cards (Regulation E) 

General Purpose Reloadable (GPR) cards are a prepaid financial product that have been increasing in popularity and that some consumers now use in a manner similar to a debit card that is linked to a traditional checking account. Consumers also are increasingly using GPR cards and other prepaid products, such as payroll cards and student loan disbursement cards, in place of a traditional deposit account or credit card. In 2012, the CFPB published an Advance Notice of Proposed Rulemaking (ANPRM) seeking comment, data, and information from the public about GPR cards. Based on its analysis of comments received and other research, the Bureau is developing a proposed rule to follow up on the issues raised in the ANPRM. The proposed rule will seek to expand coverage in Regulation E (implementing the Electronic Fund Transfer Act) to prepaid accounts, including GPR cards, by extending and in some cases modifying disclosure, periodic statement, and error resolution requirements that apply to consumer asset accounts that are currently subject to Regulation E. In particular, the Bureau expects to propose new disclosure requirements and model forms, which the Bureau is developing through consumer testing. The Bureau also expects the proposal to address treatment of overdraft services and credit features in connection with prepaid accounts under both Regulation Z (Truth in Lending Act) and Regulation E.

Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 12 CFR 1005    12 CFR 1026   
Legal Authority: 15 USC 1604    15 USC 1693   
Legal Deadline:  None
Action Date FR Cite
ANPRM  05/24/2012  77 FR 30923   
ANPRM Comment Period End  07/23/2012 
NPRM  11/00/2014 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Eric Goldberg
Office of Regulations
Consumer Financial Protection Bureau
Phone:202 435-7700