Remove Adjustments Remove Error Resolution Remove Procedures
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CFPB Pushes Prepaid Card Rule Implementation Back A Year

PYMNTS

The rule, initially passed, also modified requirements for the prepaid card industry in regards to official procedure on lost or stolen cards, error resolution and investigation, fee disclosures, access to account information and overdraft features, if offered in conjunction with prepaid accounts.

CFPB 52
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Comprehensive Guide to Account Reconciliation

Nanonets

It also helps prevent and detect theft and fraud earlier, assisting organizations to comply with financial regulations such as the Sarbanes-Oxley Act (SOX) , which mandates that publicly traded companies establish internal controls and procedures for financial reporting. Retain all supporting documentation.