,,ii #aacth ,,congress #b;d ,session ,s4 #aijc ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,january #i1 #bjad,mr4 ,warner introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to provide greater fee disclosures for consumers who have prepaid cards1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,prepaid ,card ,disclosure ,act of #bjad4 #b4 ,spending accounts 7a7 ,spending accounts ,the ,electronic ,fund ,transfer ,act 7#ae ,u4,s4,c4 #afic et seq47 is amended-- 7#a7 by redesignating section #ibc 7#ae ,u4,s4,c4 #afic note71 relating to the effective date of the ,electronic ,fund ,transfer ,act1 as so designated by section #ajgc of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7,public ,law #aaa-bjc2 #abd ,stat4 #bjfj71 as section #ibe2 7#b7 by redesignating section #ibb 7#ae ,u4,s4,c4 #aficr71 relating to exemptions for ,state regulation1 as so designated by section #ajgc of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7,public ,law #aaa-bjc2 #abd ,stat4 #bjfj71 as section #ibc2 and 7#c7 by inserting after section #ibc1 as so redesignated1 the following3 #ibd4 ,spending accounts2 disclosure of fee information 7a7 ,definition ,for purposes of this section1 the term spending account-- 7#a7 means a transaction account1 other than as defined in section #ijc7b7-- 7,a7 that is established by a consumer or on behalf of a consumer at an insured depository institution 7as defined in section #c7;c7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7;c7772 7,b7 that contains the funds of a consumer2 7,c7 to which payments are to be made by a consumer1 or at the direction of a consumer2 7,d7 to which recurring electronic fund transfers may be made1 at the direction of a consumer2 or 7,e7 from which payments may be made at the direction of a consumer through the use of a card1 code1 or device2 7#b7 includes a transaction account described in paragraph 7#a7-- 7,a7 that is operated or managed by a financial institution1 or any other person2 and 7,b7 the funds of which are-- 7i7 pooled with the funds of a person other than the person who established the account2 or 7ii7 held in a name other than that of the person who established the account2 and 7#c7 does not include-- 7,a7 a nonreloadable general-use prepaid card1 as defined in section #iae7;a77#b77;,a71 in an amount that does not exceed #bej2 7,b7 a general-use prepaid card1 as defined in section #iae7;a77#b77;,a71 that is solely associated with-- 7i7 a health plan to which section #aje of the ,internal ,revenue ,code of #aihf applies2 7ii7 a qualified transportation fringe1 as defined in section #acb7;f7 of the ,internal ,revenue ,code of #aihf2 7iii7 a health savings account1 as defined in section #bbc7;d7 of the ,internal ,revenue ,code of #aihf2 or 7iv7 any other healthcare benefit account1 including a healthcare account relating to ,medicare or ,medicaid benefits2 7,c7 a gift certificate1 as defined in section #iae7;a77#b77;,b72 7,d7 a store gift card1 as defined in section #iae7;a77#b77;,c72 7,e7 an electronic promise1 plastic card1 or payment code or device described in clause 7i71 7v71 or 7vi7 of section #iae7;a77#b77;,d72 7,f7 a nonreloadable card labeled as a gift card and marketed solely as a gift card2 7,g7 a nonreloadable loyalty1 rebate1 or promotional card2 or 7,h7 a debit card or general-use prepaid card that has been provided to a person pursuant to a ,federal1 ,state or local government administered payment program1 in which the person may only use the debit card or general-use prepaid card to transfer or debit funds1 monetary value1 or other assets that have been provided pursuant to such program4 7b7 ,disclosure of fee information 7#a7 ,disclosure required ,each financial institution or entity that is operated1 managed1 or controlled by a financial institution1 or any other person that offers a spending account shall provide to a consumer-- 7,a7 together with any application1 offer1 or solicitation for a spending account1 a table of any fees that may be charged in connection with the spending account that-- 7i7 can be easily understood by the consumer2 7ii7 is clearly and conspicuously displayed to the consumer before purchase2 and 7iii7 includes1 at a minimum1 the amount and a description of each fee that may be charged in connection with the spending account by the financial institution or entity that is operated1 managed1 or controlled by a financial institution1 or any other person2 and 7,b7 on the card or other means of access1 a toll-free telephone number and website at which the consumer may access a clear and conspicuous disclosure of the fees that may be charged in connection with the spending account4 7#b7 ,,qr code ,the ,bureau may1 in accordance with any rules established under paragraph 7#c7 and in addition to the disclosure requirements under paragraph 7#a71 require the placement of a ,,qr code1 barcode1 or other similar technology on any packaging1 card1 or other object associated with a spending account1 provided that such ,,qr code1 barcode1 or other technology is capable of providing an electronic link to the disclosures required under paragraph 7#a7 to a consumer4 7#c7 ,rules ,not later than #i months after the date of enactment of the ,prepaid ,card ,disclosure ,act of #bjad1 the ,bureau shall establish1 by rule1 the headings1 content1 and format of the fee table and estimate required under paragraph 7#a74 4 7b7 ,technical and conforming amendments ,section #ijc of the ,electronic ,fund ,transfer ,act 7#ae ,u4,s4,c4 #afic;a7 is amended-- 7#a7 by redesignating paragraph 7#d7 7relating to the ,board of ,governors of the ,federal ,reserve ,system71 as so designated by section #ajhd7b77;,a7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7,public ,law #aaa-bjc2 #abd ,stat4 #bjha71 as paragraph 7#c72 and 7#b7 in paragraph 7#c71 as so redesignated1 by striking term ,bureau means the ,bureau of ,governors and inserting term ,board means the ,board of ,governors4 7c7 ,preservation of authority ,nothing in this ,act shall be construed to limit1 amend1 or otherwise alter the authority of the ,bureau of ,consumer ,financial ,protection to issue and adopt rules1 take any action1 or exercise any other power under the ,electronic ,fund ,transfer ,act1 including with respect to general-use prepaid cards or any other electronic fund transfer product not subject to the provisions of this ,act4 7d7 ,rule of construction relating to ,,ebt cards ,nothing in this ,act shall be construed to affect the regulation of electronic benefit transfers by the ,bureau of ,consumer ,financial ,protection4