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CFPB Looks to Get Stimulus Money to Consumers Via Prepaid Cards

CFPB Looks to Get Stimulus Money to Consumers Via Prepaid Cards

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FintechNews RoundupUSA
··1 min read

Some Americans are already receiving stimulus funds via direct deposit; however the reality is that many consumers still lack bank accounts; the CFPB issued a rule which aims to get around restrictions in the Electronic Fund Transfer Act and Regulation E related to dispensing stimulus funds through a prepaid card; according to a statement from CFPB Director Kathy Kraninger included in the press release, “In these unprecedented times, policymakers are acting swiftly to provide consumers with needed financial support through new mechanisms and for new purposes outside of existing government benefit programs…The steps we are taking today ensure that consumers can receive these payments in a fast, secure, and efficient manner.” American Banker

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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