Describes how recent Regulation E amendments apply to prepaid accounts and how the amended Regulation Z (Truth in Lending Act) regulates any credit or overdraft features associated with prepaid accounts
After completing this course, students will be able to:
• Define prepaid accounts
• Explain the special “pre-acquisition” disclosures that must be provided with prepaid accounts
• Describe the alternatives to the periodic statement requirement that include related procedures for resolving errors
• Explain the requirement for agreements to be provided to the Bureau and posted on websites
• Describe how Regulation Z treats prepaid accounts with credit features
