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Payments & FinTech Lawyer

The CFPBs proposed revisions to its Prepaid Rule

The US Consumer Financial Protection Bureau (CFPB or Bureau) issued in 2016 its Prepaid Rule (the Rule). It is now proposing to make amendments to cover issues that have arisen as industry attempts to implement the Rule; these include amendments on limited liability requirements and pre-acquisition disclosure requirements. Linda C. Odom and Jeremy McLaughlin of K&L Gates discuss the proposed amendments to the Rule and the implications.

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