Description
15min
This course describes the Regulation E provisions that apply to prepaid accounts, including payroll cards, and the requirements to provide disclosures and periodic statements.
Audience: All staff responsible for issuing prepaid accounts and “hybrid” prepaid accounts, including billing statements and error resolution.
Objectives:
- Define a prepaid account
- Explain the special “pre-acquisition” disclosures for prepaid accounts
- Describe the alternatives to the periodic statement requirements and to procedures for resolving errors
- Describe how Regulation E treats prepaid accounts with credit features
This course is part of the ABA Frontline Compliance program.