Reporting and Analysis
Reporting and Analysis Because consumer complaints are a hot topic and are a hot button for regulators, these complaints need senior management and Board of Directors visibility. The …
Topic Category: Compliance
Tracking Consumer Complaints
Tracking Consumer Complaints Once you receive a complaint, you need to track that complaint in a central repository. A log should be created and kept that can relay …
Recognizing Consumer Complaints
Recognizing Consumer Complaints Who governs complaints? There is not a single agency that governs consumer complaints. Each agency has its own charter and has the latitude to receive and …
Maintenance or Inactivity Fees
Maintenance or Inactivity Fees Maintenance or inactivity fees cannot be charged on store gift cards (closed loop) or general purpose gift card accounts (open loop) unless There has been …
CFPB 2019 Prepaid Rule Highlights
CFPB 2019 Prepaid Rule Highlights Below are some of the highlights from the Prepaid Rule that went into effect on April 1, 2019. You can find full text to …
Stolen Card
Stolen Card Anytime the prepaid card leaves the sight of the cardholder (like at a restaurant), there is an opportunity for someone to steal the 16-digit card number, expiration …
Prepaid Program Manager Must Haves
Prepaid Program Manager Must Haves As a Program Manager you should do the following (at a minimum): Run CIP and OFAC checks on every new cardholder. Have a BSA/AML …
