Cfpb Prepaid Cardholder Agreements

Collect is the office`s website that allows an issuer to submit its required prepaid account agreements. An issuer must use Collect to present its agreements to the Bureau. The prepaid rule requires prepaid account issuers to submit their prepaid account agreements to the Bureau. Issuers must come forward when a new agreement is proposed, a previously submitted agreement is amended or a previously presented agreement is no longer proposed. (c) the transmission of agreements to the Office. (1) Quarterly submissions. A card issuer must make a quarterly decision with the Bureau, as defined by the Bureau. Quarterly submissions must be submitted to the Office by the first business day, January 31, April 30, July 31 and October 31 of each year. Each submission contains the following information: (B) price information, which may vary from cardholder to cardholder depending on the creditworthiness of the cardholder or his or her residence status or other factors, must be disclosed either by indicating all possible differences (e.g.B. 13 per cent purchase APR, 15 per cent, 17 per cent and 19 per cent) or by providing a number of possible differences (e.g.B.

Your money is eligible for FDIC insurance. Your money is held or transferred to MetaBank, N.A., an institution insured by the FDIC. Once there, your funds are insured up to 250,000 USD by the FDIC if metaBank breaks down if certain deposit guarantee requirements are met. For more information, see fdic.gov/deposit/deposits/prepaid.html. No overdraft/credit function. Contact customer service at 866-261-1971, by mail under Card Services, PO Box 91607, Sioux Falls, SD 57109, or visit AAAPrepaidCards.com.For general information on prepaid accounts, visit cfpb.gov/prepaid. If you have a claim about a prepaid account, call the Consumer Financial Protection Bureau at 1-855-411-2372 or visit cfpb.gov/complaint. Under the final rule, issuers must wait at least 30 days after registering the prepaid account before asking a consumer to link a separate credit function covered to a prepaid account and obtain the consumer`s consent to link that credit to the prepaid account.