Three Tips to Navigate the New CFPB Prepaid Regulations

by Stephen Faust 0

Money20/20 2016 was full of excitement for the more than 10,000 attendees who networked with prospects and peers, listened in on the latest innovations, and took away the latest payments trends.

One key show takeaway came from the Consumer Financial Protection Bureau’s (CFPB) presentations regarding recent prepaid regulation updates. During Money20/20, I found myself holding conversations with my peers about how banks can successfully navigate these changes, while continuing to sell prepaid products. Banks and business will be challenged to navigate not only these new regulations over the next two years, but also to stay current with product features, functionality and new trends in the payments space.

Prepaid payments providers: now is the time to set your strategy around navigating the new prepaid regulations set forth by the CFPB.

Here are three tips to get started:

1)