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Submitting prepaid account agreements to CFPB

Question: 
We are a small community bank and the submission to the CFPB of our Prepaid Account agreements looks to be burdensome. Is there any way out of providing such disclosures?
Answer: 

The CFPB has provided a de minimis exception for those banks that have fewer than 3,000 Prepaid Accounts at the end of the last day of the calendar quarter when the rule becomes applicable or falls below that amount at some point thereafter.
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Learn more about Don Blaine’s webinar
Prepaid Accounts

First published on 09/03/2017

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