Volume 25 - Number 2
January 20, 2014
Worth Noting/Looking Ahead/ICYMI
Warner Introduces Prepaid Card Fee Legislation. Sen. Mark Warner, D‐VA, recently introduced legislation that would require new disclosures of prepaid card fees. Under Warners bill, the CFPB would be required to standardize the required disclosures. Under S. 1903, the Prepaid Card Disclosure Act of 2014, the bureau would be required to issue rules to establish the format for the fee disclosures. Also, the CFPB would have the authority to require an electronic link to the disclosures in the form of a quick response code, barcode or similar...
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