Regulation E: The Prepaid Rule Part 1
11 min! Run Time
Employees
only
Provided
What you'll learn
Skills covered in this course
Description
As prepaid cards became widely popular, Regulation E was expanded to protect prepaid accounts.
What this course covers:
- Which prepaid accounts and cards are covered, and which are not
- Error resolution and liability limitations for prepaid accounts
- Exceptions that apply to unverified prepaid accounts
- Required changes to periodic statements and the alternatives
For institution staff who manage prepaid card and account programs.
System Requirements
See System Requirements in the Coggno Knowledge Base
Author
Frequently Asked Questions
The course explains which prepaid accounts and cards are covered, and which are not, as prepaid cards became widely popular and Regulation E was expanded to protect these accounts under a dedicated set of rules staff must learn.
It covers error resolution and liability limitations for prepaid accounts, applying the Regulation E error framework used elsewhere in the broader series to the prepaid product category this first part introduces here for the first time.
This course covers exceptions that apply to unverified prepaid accounts, giving staff the specific carve-outs that exist before a prepaid account completes the verification process required under the Prepaid Rule's provisions for these particular accounts.
It covers required changes to periodic statements and the alternatives, showing staff how the Prepaid Rule adjusted standard Regulation E statement requirements specifically for the prepaid accounts and cards this course covers in Part 1.
The course is for institution staff who manage prepaid card and account programs and need Part 1's grounding in coverage, error resolution, liability limits, and statement rules before moving on to Part 2 of the series.
