- js reader version
- email this article
- view hidden posts
- tags and related articles
by Abby Wilhelm
Friday, May. 12, 2017 at 4:12 PM
The Consumer Financial Protection Bureau (CFPB) escaped a May 11th deadline for Congress to void a rule designed to give prepaid card users similar protections as debit card users.
The Consumer Financial Protection Bureau (CFPB) escaped a May 11th deadline for Congress to void a rule designed to give prepaid card users similar protections as debit card users. Congress could have used the Congressional Review Act or CRA to remove the "Prepaid Account Rule" as they did earlier this year to void other transparency rules. The Prepaid Account Rule will go into effect later in the year.
"Vulnerable consumers need to be protected from fraud, hidden fees and predatory actors," noted Eric LeCompte, Executive Director of the religious development group Jubilee USA. "Any interruption to this rule would pose a loss for all consumers, let alone poor communities."
The CFPB announced the new rule in 2016 to protect consumers from fraud and to improve transparency. The rule is expected to go into effect starting October 2017.
"The fact that this rule is going forward is a victory for transparency and responsible lending," said LeCompte.
Jubilee USA Network is an alliance of more than 75 US organizations and 650 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people.
Report this post as:
Segregation in the City of Angels: A 1939 Map of Housing Inequality in L.A.
Justice Dept. seeking info, IDs on 1.3M visitors to protest website DisruptJ20.org
San Francisco Rally Protests Hate Crimes in Charlottesville
New Google algorithm restricts access to left-wing, progressive web sites
Tracking Twenty Years of Stockton Killings by Law Enforcement
Garcetti Cronyism - Why and How to Ignore Your LA Dog License
Nation's Worst Meltdown Was In LA
As RV towing resumes in LA, officials say program won't 'target homeless'
Class War on the Waterfront: Longshore Workers Under Attack
Limits to Growth Published Forty Years Ago
KPFK's Indy Media on Air Now on Wednesdays
Lessons From Portland’s Clashes With Fascists
Dr. Maryse Narcisse of Haiti Visits Southern California
May Day March in Riverside
Nuclear Shutdown News: April 2017
Jewish “Defense” League: Nazis in Skull-caps
More Local News...
La horde sauvage
[France] The State Attacks Indymedia-Grenoble and Indymedia-Nantes… Solidarity!
The US Superpower is Dangerous
There's a pretend world and a real world
Winner takes all
Development Group Says Debt Relief Can Provide Quick-Recovery Aid to Caribbean
Nuremberg trials needed
The Shortwave Report 09/22/17 Listen Globally!
Darkness over the White House
Paraphysique de biodynamie généralisée
6 Arrested in Female Genital Mutilation Business in La Vonia Michigan
Gang Stalking by fbi
Hurricane Maria Slams Dominica and Heads Towards Puerto Rico
Paraphysique de l'orthopraxie
Reem’s Cafe Owner Has a First Amendment Problem
Evidence of USA Murderous Decadence &Threat to Civilization
The World at Risk under Trump
Fbi are human monsters
August 2017 Honduras coup update
Perpetrators of atrocities are employed by or associated with fbi
Mr. President ...
Nicaraguas fake Communist Gov. Forcing Canal on Southern Portion of Country No MoneyHealth
Allied Efforts in WW2@ Shortened Length of Time Nazi Party Terrorized Western Theater
Identity TRheft Rings Hurting all Classes Races and Types in USA Identity Sytems
More Breaking News...