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New Prepaid Card Rule/ Error Resolution Provision

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We discontinued offering prepaid cards a year ago. Customers can still use any previously purchased prepaid cards until the card expires or is cancelled. Customers can continue to reload their prepaid card but not through the bank. Is there any applicability for us regarding the new Prepaid Card Rule effective April 1, 2019, such as the error resolution provision for example?

If the account or card is maintained by a third party (the bank was a sales agent for the card/account), that third party bears the responsibility for error resolution and other servicing obligations.

First published on 04/21/2019

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