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On January 25, 2018, the CFPB published a final rule that amends the regulations implementing the Electronic Funds Transfer Act (Regulation E), the Truth in Lending Act (Regulation Z) ...
within Insolvency/Bankruptcy/Re-Structuring, Criminal Law and Law Department Performance topic(s)
On January 25, 2018, the CFPB published a final rule that amends
the regulations implementing the Electronic Funds Transfer Act
(Regulation E), the Truth in Lending Act (Regulation Z), and
corresponding official interpretations. The final rule makes a
number of modifications to these regulations, including changes to
error resolution requirements and limited liability provisions,
which will now apply after a consumer's identity has been
verified, designed to promote prompt registration of prepaid cards
by individuals. In addition, the final rule clarifies how the
prepaid rule applies to credit cards linked to digital wallets,
which promotes consumer use of digital wallets, while providing the
same protections that apply to traditional credit card accounts.
The final rule also delays the effective date of these provisions
until April 1, 2019.
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