January 25, 2018 – Today the Consumer Financial Protection Bureau issued final changes to is Prepaid Accounts Rule, which include a delay in the effective date of the rule until April 2019. Financial Innovation Now has been seeking this delay.
The following statement is attributed to Brian Peters, Executive Director, Financial Innovation Now:
“FIN requested and received a delay of the prepaid rule until April 2019. We are pleased with the additional time and are hopeful the Bureau will approach digital wallets with the flexibility necessary to permit innovation and continued enhancement of access to financial services.”