ANOTHER BUSY WEEK AT THE CFPB

Mark Campanale Government Relations Updates

2/17/2022

By Fran Bishop, NPA Government Relations Liaison

COMPLIANCE—COMPLIANCE—COMPLIANCE 

Another busy week at the CFPB: 

  • Action taken to prevent prepaid card issuers from siphoning consumers government benefits. A great number of Americans have chosen to receive payments on a prepaid card in lieu of to a bank account which many do not have as they are ‘unbanked or underbanked’.  
  • Under the premise of Americans exercising their Constitutional Rights, the CFPB created a simplified method for the general public to submit requests for regulatory changes and rulemaking requests. This new access is in addition to the complaint portal that has been in place. 

Here are 2 links to press releases:

CFPB Takes Action to Halt Prepaid Card Providers Siphoning Government Benefits

Consumer Financial Protection Bureau Launches New Way for the Public to Petition the Agency for Action