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Report: CFPB prepaid card rule delayed to May or June

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Report: CFPB prepaid card rule delayed to May or June

The ConsumerFinancial Protection Bureau's final ruleregarding consumer protections for prepaid cards and similar products will likelynot appear until May or June, according to a March 29 research note by Compass PointResearch & Trading analyst Isaac Boltansky.

Citinga March 28 report in Politico, Boltanskywrote that the final rule had been expected in March.

The analystalso expects to see a notice of proposed rulemaking published during the secondquarter for the bureau's payday lending rule. On March 9, CFPB Director RichardCordray said that noticewould be issued "in the coming months."