Author Topic: CFPB expands its reach to prepaid cards  (Read 716 times)

Offline yitzf

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CFPB expands its reach to prepaid cards
« on: July 22, 2014, 11:58:31 AM »
The CFPB will give companies 15 days to respond to complaints about the prepaid cards they issue, and resolve any problems within 60 days.

The CFPB already investigates complaints about traditional credit cards, mortgages, auto loans, student loans, bank accounts, credit reporting, debt collection, and payday loans.

Now, the CFPB will also expand its reach to prepaid cards, which could include gift cards, employee benefits cards for healthcare and transit payments, and general purpose reloadable cards.

http://thehill.com/regulation/212848-cfpb-tackles-prepaid-card-complaints