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Prepaid
The New Prepaid Rule Will Affect Checking Accounts
Posted:
November 18, 2016
Author:
Mercator Research
Abstract:
Consumer Financial Protection Bureau has made checkless checking more competitive.
The CFPB’s final prepaid rule has increased operational complexities for prepaid cards. At the same time, its refusal to define prepaid products by account structure means that checkless checking providers will need to be careful with their marketing. Demand deposit accounts may become a more attractive option for institutions that want to reach unbanked consumers.
You must be subscribed to Mercator's Prepaid service to download this viewpoint
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