CFPB’s Upcoming Rule Aims to Protect Holders of Prepaid Cards [VIDEO]

The future of regulations in banking may be uncertain pending the results of yesterday’s election, but one thing we know: On Oct. 1, 2017, a new rule will go into effect for prepaid cards, the CFPB announced last month. The rule will require transaction histories to be provided to users, transparent explanations of fees, and protections offered for fraudulent transactions.

Green Dot is in a quiet period before it announces earnings today, but this rule must loom large for the company, which created the prepaid category back in 2000.

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