Compliance Blog

Written by Bernadette Clair, Senior Regulatory Compliance Counsel

Prepaid Cards. Last week, the CFPB blogged about a couple of model prepaid card disclosures (Model Form 1 and Model Form 2) currently being tested with consumers. In its blog post, the CFPB provides examples of some of the current prepaid card disclosures out in the market, and suggests that the different styles and formats could make it difficult to find and compare important disclosure information.

The CFPB has had prepaid cards on its radar for some time.  Back in May 2012 we blogged about a CFPB Advance Notice of Proposed Rulemaking (ANPR) seeking comments and information from the public about general purpose reloadable prepaid cards. The CFPB intends to issue a proposed rule later this spring addressing consumer protections for prepaid cards, including standardized disclosures.

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NCUA Listening Sessions. Online registration is now open for NCUA listening sessions taking place this summer in Los Angeles, Chicago and Alexandria, Va. NCUA Chairman Debbie Matz and Board Member Rick Metsger will attend the sessions. The sessions provide an opportunity for credit union officials to discuss any topics related to the NCUA and are scheduled to take place before NCUA’s proposed risk-based capital rule is finalized. Registration is free, but space is limited and on a first-come, first-served basis.  Click here to register.

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Financial Literacy Webinar.  NCUA is also hosting a free webinar on how credit unions can promote financial literacy.  Topics to be covered include: the link between financial literacy and the credit union mission; NCUA financial literacy resources; tips on building a successful financial literacy program based on credit union size and specialized member demographics; information about improving financial literacy efforts through the creation of key local and national financial literacy partnerships; and the Treasury Department’s recent financial literacy pilot research program.

This free webinar will be held on Thursday, April 3, 2014, at 2 p.m. EDT.  Register here. 

Participants may submit questions in advance at WebinarQuestions@ncua.gov. The subject line of the email should read “Financial Literacy Webinar.”