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Regulation E & Z — Prepaid Accounts

This Regulation E & Z — Prepaid Accounts online training course is designed for frontline employees. The CFPB issued rules to create comprehensive protections for prepaid accounts under Regulation E and Regulation Z. While most community banks are merely sellers of prepaid cards, not issuers, banks must ensure they are providing the appropriate disclosures and that they are accurate. Issuers of prepaid accounts must know the rules in great detail.
SKU: P0660EN
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This Regulation E & Z — Prepaid Accounts online training course explores the prepaid account rules for both Regulation E and Z.

In April 2019, the CFPB finalized rules under Regulation E and Z regarding prepaid accounts and hybrid prepaid accounts. The final rule modified general Regulation E requirements to create tailored provisions governing disclosures, limited liability and error resolution, periodic statements, and adds new requirements regarding the posting of account agreements. The final rule also modified Regulation Z in relation to overdraft credit features that may be offered in conjunction with prepaid accounts.

While most of the detailed requirements found in Regulation E and Z are handled by the “issuer” of the prepaid accounts, “sellers” of the accounts, most community banks, need to have a general understanding of the rules and ensure they provide the appropriate and accurate disclosures. This course provides details on the prepaid account rules for both Regulation E and Z.

Course Learning Objectives

On completion of this Regulation E & Z — Prepaid Accounts course, the user will learn:

  • Determine what types of accounts are prepaid accounts
  • Provide the appropriate disclosures to the consumer
  • Ensure the consumer has access to their account information
  • Answer any questions a consumer may have about their liability on unauthorized transactions
  • Know the restrictions on prepaid accounts that are tied to a separate credit feature

Course Outline

This online Regulation E & Z — Prepaid Accounts course is made up of the following sections:

  1. Definitions
  2. Pre-Acquisition Disclosures under Regulation E
  3. Account Agreement
  4. Periodic Statements & Access to Account Information under Regulation E
  5. Regulation E Modified Limitations on Liability and Error Resolution
  6. Regulation Z Requirements for Hybrid Prepaid Credit Cards

Course Audience

This Regulation E & Z — Prepaid Accounts online training course was designed for frontline employees.

If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.

Products specifications
Course LanguageEnglish
Length Range30 Minutes or Less
Length (Hours)0.5
Course FeaturesAudio, Mobile, Accessible
Module Number(s)41169EN