CFPB Issues Resources for Prepaid Product Agreements

ALEXANDRIA, Va. – On February 27, 2019, the Consumer Financial Protection Bureau (CFPB) released technical specifications and related resources for credit unions that issue prepaid products to members. The resources include instructions for submitting prepaid product agreements to Collect, the CFPB’s database of those agreements. Credit unions must use Collect beginning April 1, 2019.

Review the Consumer Financial Protection Update