Written by Steve Van Beek
Prepaid Cards Field Hearing. The CFPB recently announced a field hearing on prepaid cards - which will be held today in Durham, North Carolina starting at 12:00 p.m. EDT. The CFPB's blog indicates to check back if you want to view the live broadcast. [As of now, there is no link to the feed. But, past live feeds were available here if you want to try around noon].
Upcoming Prepaid Card Regulation. In conjunction with today's field hearing, the CFPB announced its intent to regulate the prepaid card market. The CFPB announced an Advanced Notice of Proposed Rulemaking (ANPR) which is an initial step in the rulemaking process and is usually one where an agency gathers information about the market - prepaid cards in this situation - in anticipation of future regulation.
In addition to the ANPR, the CFPB issued a Fact Sheet on Prepaid Cards and a Ask CFPB: Prepaid Cards search function on their website.
By the way - it is good to see the CFPB's website is capable of having a search bar! I can't wait until they upgrade to the third version of their website and provide a search bar to help credit unions and other entities find the information they need.
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NAFCU Webcasts. NAFCU has a full slate of webcasts for June. Remember, all of NAFCU's events and conferences are open to anyone - this includes webcasts.
- June 13 - Building an Effective Enterprise Risk Management Program
- June 20 - The Impact, Expectations and Future of the CFPB on Credit Unions
- June 27 - BSA for Experts - Registration available soon!
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Regulatory Compliance Seminar. Also, don't forget to look at NAFCU's 2012 Regulatory Compliance Seminar in Seattle, Washington. Save $100 when you register by August 31st! For potential topics, check out this past blog post.
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