CFPB Report Is Unclear on Timing for GPR Rules (Nov. 11, 2013)
It’s unclear whether the prepaid industry will have the CFPB’s proposed rules for GPR cards by Dec. 31, or if the wait will extend into
2014. In its semi-annual report to President Obama and Congress released last week, the agency said it continues to work on GPR prepaid card rules based on comments received after the agency issued an Advanced Notice of Proposed Rulemaking
The report also notes that the bureau’s Office of Community Affairs this year has solicited input from thousands of community group representatives through more than 100 meetings, briefing calls and public appearances on topics such as prepaid cards, credit reporting and scoring, payday loans and remittances.
