The Bureau of Consumer Financial Protection (Bureau or CFPB) announced proposed changes to its rules related to the Electronic Fund Transfer Act and the Truth in Lending Act. The Bureau is accepting comments on potential modifications to several issues, including error resolution and limitations on liability for prepaid accounts where the financial institution has not completed its consumer identification and verification process. Also potentially affected are credit-related provisions to digital wallets capable of storing funds. Comments are due by August 14, 2017.
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