The CFPB will not unveil its prepaid card regulations until the end of the summer, bureau Director Richard Cordray told the Senate Banking Committee. The rule had been expected this month.
The delay follows other rulemaking delays announced recently. The bureau pushed back its pre-rulemaking activities on payday loans and deposit advances to September and its pre-rulemaking activities on overdraft protection to February 2015.
View the CFPB’s rulemaking agenda.