Resources to help industry participants understand, implement, and comply with the Prepaid Rule.
On April 29, 2022, the Bureau released Spanish translations of Prepaid Model Forms.
On February 15, 2022, the Bureau issued a on the Electronic Fund Transfer Act’s (EFTA’s) compulsory use prohibition. Section 913 of EFTA provides, among other things, that no person may require a consumer to establish an account for receipt of electronic fund transfers with a particular financial institution as a condition of receipt of a government benefit. The Bureau issued the Compliance Bulletin to reiterate that this prohibition in EFTA applies to government benefit accounts.
Browse the rule to review the prepaid-specific changes to Regulations E and Z.
Regulations and official interpretations
Browse Regulation E (12 CFR 1005) on: Interactive Bureau Regulations |
Browse Regulation Z (12 CFR 1026) on: Interactive Bureau Regulations |
The primary rule provisions specific to prepaid, and official interpretations, can be found in:
- § 1005.2(b)(3), Definitions/ account/ prepaid account
- § 1005.15, Electronic fund transfer of government benefits
- § 1005.18, Requirements for financial institutions offering prepaid accounts
- § 1005.19, Internet posting of prepaid account agreements
- § 1026.61, Hybrid prepaid-credit cards
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Small entity compliance guide
Guide to preparing the short form disclosure for prepaid accounts
Supervision and examination materials
Guides to how the Bureau and prudential regulators will supervise and examine entities for compliance with Federal consumer financial law.
Downloadable versions of the model forms and samples that were published in the Prepaid rule.
Information regarding the agreement submission requirements of the prepaid rule.