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Course/Product Description
Title:

Regulation E Final Changes on Prepaid Cards

SKU:WC-1023734
Date / Time: 3/9/2017 / 2:30 - 4:30pm Eastern
Format: Webinar
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Description:

Regulation E Final Changes on Prepaid Cards

The Consumer Financial Protection Bureau (CFPB) finalized strong federal consumer protections for prepaid account users. The new rule requires financial institutions to limit consumers’ losses when funds are stolen or cards are lost, investigate and resolve errors, and give consumers free and easy access to account information. The Bureau also finalized new “Know Before You Owe” disclosures for prepaid accounts to give consumers clear, upfront information about fees and other key details. Finally, prepaid companies must now generally offer protections similar to those for credit cards if consumers are allowed to use credit on their accounts to pay for transactions that they lack the money to cover.

The new rule applies specific federal consumer protections to broad swaths of the prepaid market for the first time. It covers traditional prepaid cards, including general purpose reloadable cards. It also applies to mobile wallets, person-to-person payment products, and other electronic prepaid accounts that can store funds. Other prepaid accounts covered by the new rule include: payroll cards; student financial aid disbursement cards; tax refund cards; and certain federal, state, and local government benefit cards such as those used to distribute unemployment insurance and child support.

Covered Topics:

Prepaid Protections

For many consumers, prepaid accounts are an alternative to traditional checking accounts, but until now they had only limited federal protections. The new rule gives prepaid account consumers important protections under the Electronic Fund Transfer Act, which are similar to those for checking account consumers. They include:

  • Free and easy access to account information
  • Error resolution rights
  • Protections for lost cards and unauthorized transactions ¬†

Know Before You Owe: Prepaid Disclosures

  • Standard, easy-to-understand, upfront information
  • Publicly available card agreements¬†

Credit Protections

  • Ability to pay
  • Monthly credit billing statement
  • Reasonable time to pay and limits on late fees
  • Limited fee and interest charges¬†
Other protections to ensure that the prepaid account and the credit feature described above are distinct, such as a:

  • Thirty-day waiting period
  • Wall between prepaid funds and credit repayment



What you will receive:

  • Regulation Changes in a Word Document so that you can search for information
  • Sample Policy
  • Sample Procedures
Who Should Attend:

Compliance Officers, Regulation E Dispute personnel, Deposit Operations and all Regulation E staff

The Presenter

Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 27 years of combined teaching and banking experience.

Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in On-Demand Or CD versions, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

Licenses / Designations / Educational Credits:CEU
About The Provider: Since 1983 Total Training Solutions has produced dozens of videotapes, CD-Roms, DVD's and web-based training modules. In addition to off-the-shelf products, Total Training Solutions also develops custom training products and consults with financial institutions to develop their own training curriculum.

For timely delivery of training topics, webinars or web conferencing is an unbeatable option. We now offer over 100 live programs per year and you can even purchase the recorded or ondemand session if you are unable to attend the live program.

We have worked exclusively with the financial industry since our founding. Because of this, we understand the needs of training departments in financial institutions and are alert to changes which affect the industry.

Webinar Descriptions:

Live Session:
Attend the live session with the opportunity to ask questions to the presenter. You also receive a link to the handouts. All registrations for a live event will be given access to the OnDemand recording, at no additional cost, for seven days following the event. This will allow a flexible alternative when last minute conflicts intrude on scheduled events.

Recorded CD:
CD-Rom includes audio and video of recorded webinar plus hard copy handouts. You will also receive 6 months access to the OnDemand weblink as an added free bonus.

OnDemand:
Includes a weblink for unlimited viewing for 6 months after the date of the webinar as well as a link to handouts.

Live + Recorded:
Includes all three options above. Live session, OnDemand Weblink, and CD-Rom plus Hardcopy Handouts.

Live + OnDemand:
Includes two of the options above. Live session and 6 months access to OnDemand Weblink plus link to handouts.
More Info: Contact Us For More Information
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