The CFPB has amended parts of its Prepaid account rule under both Regulations E and Z. Those changes impact error resolution/liability when customer identification and verification has not been completed; the application of credit-related requirements to digital wallets that can store funds; and other more minor clarifications and corrections. In addition, the overall effective date is extended to April 1, 2019.
This document “redlines” the 2018 Amendments.
Diane joined Banker’s Compliance Consulting with over 10 years of compliance experience and over 15 years of experience within the financial industry. Diane is a Certified Regulatory Compliance Manager (CRCM) and has a Bachelor’s Degree in Sociology with a concentration in Criminal Justice. She is a graduate of the Schools of Banking Compliance School and has participated in various other training opportunities throughout her career. Diane understands firsthand the struggles banks face in building and maintaining successful compliance programs. Her experience and common sense approach to consumer compliance is a great asset to our clients.
Diane and her husband have two kids who keep them busy. She enjoys running and other sports and is a big Bugs Bunny fan! She’s a bit crazy in that she does enjoy reading some of these regulations and she’s a “crazy cat lady!” Her cat tales are hilarious!