By Fran Bishop, NPA Government Relations Liaison
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: