Study of Prepaid Account Agreements - Couverture souple

Consumer Financial Protection Bureau

Couverture souple

ISBN 10 : 1507620667 ISBN 13 : 9781507620663

Editeur : CreateSpace Independent Publishing Platform, 2015

Synopsis

In order to better understand the features and consumer protections currently provided byprepaid products, the Bureau conducted a study (the Study) of publicly available accountagreements for prepaid products. The prepaid products included in the Study all appeared tomeet the proposed definition of the term prepaid account in its proposed rule governing prepaidaccounts under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act(Regulation Z), published concurrently herewith. Specifically, the Bureau sought to determinecurrent industry practices in a number of areas to inform the Bureau’s understanding of thepotential benefits and costs of extending various Regulation E provisions to prepaid accounts. Inconducting the Study, Bureau staff examined certain key provisions in the account agreementsof prepaid cards and other similar prepaid programs currently available to consumers andcompared those terms against the protections that would be required by the proposal.The Study covers 325 account agreements for prepaid programs that, Bureau staff believes,could be subject to the definition of prepaid account in the Bureau’s proposed rule. This Studyexamines key provisions regarding error resolution protections (including provisional credit); limited liability protections; access to account information; overdraft services and negative balance fees; Federal Deposit Insurance Corporation (FDIC) or National Credit Union ShareInsurance Fund (NCUSIF) pass-through deposit or share insurance; and general disclosure of fee information. The proposed rule explains in detail the issues related to these various provisions.

Détails de l'édition

• Éditeur: CreateSpace Independent Publishing Platform
• Date d'édition: 2015
• Langue: anglais
• ISBN 10: 1507620667
• ISBN 13: 9781507620663
• Reliure: Broché
• Nombre de pages: 30
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible