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Wednesday, March 19, 2014

CFPB: Uniform Prepaid Card Disclosure

The CFPB is developing new disclosures that they are proposing to be used on the packaging of prepaid cards in place of disclosures that present different information, potentially making it difficult to do side-by-side comparisons and determine fee information. The bureau has created two model labels that it has been testing on participants.

The bureau is expecting to propose a rule on the topic later this spring.

Read more.

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