Reg E Prepaid Accounts
Course Number: ABA
Course Code: ABA
Describes how recent Regulation E amendments apply to prepaid accounts and how the amended Regulation Z (Truth in Lending Act) regulates any credit or overdraft features associated with prepaid accounts.
What You’ll Learn
After completing this course, students will be able to:
- Define prepaid accounts
- Explain the special “pre-acquisition” disclosures that must be provided with prepaid accounts
- Describe the alternatives to the periodic statement requirement that include related procedures for resolving errors
- Explain the requirement for agreements to be provided to the Bureau and posted on websites
- Describe how Regulation Z treats prepaid accounts with credit features
Audience: All staff responsible for issuing prepaid accounts and “hybrid” prepaid accounts, including billing statements and error resolution.